Core Scientific, a Nasdaq-listed company that operates data centers for Bitcoin mining and AI workloads, announced it has secured a total of $1 billion in strategic financing, including $500 million from JPMorgan. The funds will support equipment, property, and energy investments in high-density colocation data centers.
The company emerged from Chapter 11 bankruptcy in January 2024 after restructuring approximately $400 million in debt obligations. It shifted focus toward high-density colocation services for AI and machine learning workloads, using its existing power capacity and physical footprint.
In Q4 2025, colocation revenue jumped 268% year over year to over $31 million, driven by the expansion of colocation operations. Total quarterly revenue fell 16% to approximately $80 million, but gross profit rose to nearly $21 million, with net income reaching $216 million due to a GAAP non-cash fair value gain of $330 million.