Core Scientific, a Nasdaq-listed company that specializes in Bitcoin mining and AI services, he announced has raised $1 billion in funding, including $500 million from JPMorgan.
In a statement on Monday, Core Scientific CEO Adam Sullivan said that with the support of Morgan Stanley and JPMorgan, the company is well equipped to achieve its commercialization goals and expand its data center.
“With more than $1 billion in capital available now, we are ready to do our development work with marketing strategies, deploying capital to advance development and meet the needs of the community,” said Sullivan.
The funding will support the installation of equipment, supplies, and energy in data centers. The property is interested in SOFR plus 2.5%.
From bankruptcy to billions of dollars in debt
Core Science it has been discovered It emerged from Chapter 11 bankruptcy in January 2024, having restructured nearly $400 million in debt.
At the time of his move, the company was one of North America’s largest Bitcoin miners, but the difficult rise of the network and after half of the financial crisis forced him to review his business model.
Instead of continuing to develop more and more mining operations, Core Scientific shifted to more remote AI and machine learning workloads, leveraging the power and reliability of its predecessors.
The company also reported strong revenue growth in Q4 2025, despite a decline in revenue.
Real estate revenue jumped 268% year-over-year to more than $31 million in the quarter, led by a surge in colocation projects.
In contrast, net income for the quarter fell 16% to about $80 million from about $95 million a year earlier, a decline that resulted from a deliberate reduction in mining activity.
Gross profit increased to about $21 million from $4.8 million in previous years. Net income reached $216 million, reflecting a non-cash GAAP profit of $330 million, compared to a net loss of $291 million in Q4 2024.
Core Scientific ended the quarter with revenue of approximately $533 million, providing a solid path to continued growth.
