Core Scientific, Inc., a leader in digital infrastructure for high-density colocation, today announced that it closed an additional $500 million commitment provided by JPMorgan Chase Bank, N.A. under the accordion feature of the Company’s previously announced 364-day credit facility (the “Facility”).

This brings total funded commitments under the Facility to $1.0 billion, including the previously announced $500 million commitment from Morgan Stanley. Borrowings under the Facility bear interest at a rate of the Secured Overnight Financing Rate (“SOFR”) plus 250 basis points (2.50%).

The Company expects to use proceeds from borrowings under the Facility for general corporate purposes related to the development of data center assets, including without limitation equipment purchase costs, pre-development costs, real property acquisition and costs related to the acquisition of, and entrance into, agreements for the procurement of additional energy for data centers.