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News Explorer — Core Scientific Is Dumping Bitcoin for AI, and Just Got Up to $1 Billion From Morgan Stanley to Help It

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Mar 5, 3:33 pm
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Core Scientific Is Dumping Bitcoin for AI, and Just Got Up to $1 Billion From Morgan Stanley to Help It

Core Scientific has secured up to $1 billion in financing from Morgan Stanley, with an initial agreement allowing borrowing of $500 million. The company plans to transition away from Bitcoin mining to focus on high-density colocation, aiming to expedite project timelines and expand its physical footprint.

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