PANews reported on March 23 that Core Scientific announced an additional $ 500 million in commitments through an "accordion" structure provided by JPMorgan Chase, on top of its existing 364- day credit facility, bringing its total financing commitments, including the previous $ 500 million from Morgan Stanley , to $ 1 billion. The interest rate for this facility is SOFR plus 250 basis points. The company stated that it will use the financing for general corporate purposes related to high-density data center infrastructure, including data center equipment procurement, upfront development investments, real estate acquisitions, and costs related to new power purchases and energy agreements, to accelerate infrastructure construction and meet data center demands.