Core Scientific Issues $3.3 Billion in Bonds to Fund AI Data Center Expansion
Core Scientific (CORZ) has raised $3.3 billion through a junk bond sale to fund its transition to AI data centers. The company, previously a Bitcoin miner, is building six large-scale data centers with a 12-year lease agreement with CoreWeave (CRWV), potentially generating $10 billion in revenue. The bond sale follows a $175 million Bitcoin sale in March.
Topics: AI infrastructure bond issuance corporate pivot data centers financial restructuring