Core Scientific boosts revolving credit line to $1 billion; JPMorgan adds $500 million

Core Scientific said its 364-day credit facility has been increased to $1 billion. JPMorgan Chase committed an additional $500 million, supplementing the $500 million previously pledged by Morgan Stanley. The facility is priced at SOFR plus 250 basis points. The bitcoin miner plans to use the proceeds for data center asset development, including equipment purchases, predevelopment work, land acquisition and energy procurement.