TechFlow News: On March 23, according to The Block, Bitcoin mining company Core Scientific announced a $500 million credit facility from JPMorgan Chase. Combined with the previously committed $500 million from Morgan Stanley, the total financing amounts to $1 billion, with a loan interest rate of SOFR + 250 basis points. The company plans to use these funds to acquire real estate and purchase equipment, accelerating the transformation of its existing mining facilities into AI high-density computing data centers. It also intends to sell the majority of its Bitcoin reserves by 2026 to advance its strategic transformation.
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