Core Scientific (CORZ) Stock Jumps 6% After Announcing $3.3B Bond Offering for AI Expansion

Table of Contents Core Scientific once dominated North America’s bitcoin mining landscape. Today, the company is positioning itself as a leading AI infrastructure provider — and it’s securing $3.3 billion in financing to make it happen. Core Scientific, Inc., CORZ On Tuesday, the firm revealed plans to issue $3.3 billion in senior secured notes with a 2031 maturity date. These bonds will be collateralized by Core Scientific’s assets, ensuring bondholders receive preferential treatment if the company defaults. Notably, this debt-based approach prevents dilution of current shareholders. The capital raised will finance ongoing data center development and retire existing short-term obligations, including balances drawn under a 364-day revolving credit line. Construction sites span multiple states including Georgia, Texas, North Carolina, and Oklahoma. This marks the company’s second major capital raise in 2025. Back in March, Core Scientific secured a $1 billion credit facility arranged by Morgan Stanley. The latest bond offering significantly expands that financial foundation. Established in 2017, the company became one of North America’s largest bitcoin mining operations before declaring Chapter 11 bankruptcy in December 2022. Escalating electricity expenses combined with depressed bitcoin valuations crushed profitability. The company exited bankruptcy protection in January 2024 and resumed trading on Nasdaq under the ticker CORZ. The April 2024 bitcoin halving reduced mining rewards from 6.25 BTC to 3.125 per block. Throughout late 2025, operational costs continued rising while bitcoin’s value tumbled from peaks above $125,000 to approximately $75,800. This economic reality made traditional mining increasingly unsustainable. However, miners possessed critical infrastructure: operational data centers, established power purchase agreements, and facilities designed for heat-intensive computing. These capabilities aligned perfectly with AI companies’ infrastructure requirements. Core Scientific secured a capacity lease with CoreWeave through a 12-year partnership. This arrangement is expected to generate roughly $10 billion in total revenue. Six specialized AI data centers are currently being built to accommodate these operations. Core Scientific isn’t the only player leveraging junk bond markets. Companies connected to AI infrastructure have collectively raised $17.9 billion through high-yield debt issuance this year, Bloomberg data shows. Recent transactions include $6.7 billion in combined offerings associated with Google-supported data centers and CoreWeave facilities. Separately, Edged Compute is currently marketing $1.3 billion in bonds to finance data centers leased to CoreWeave and an Alibaba subsidiary. CFO Jim Nygaard disclosed that the company maintains holdings of “under 1,000 bitcoin.” In March, the firm liquidated $175 million in bitcoin assets to support its pivot toward AI infrastructure. CORZ shares increased approximately 6% during Tuesday’s trading session. Year-to-date, the stock has surged nearly 42%, contrasting sharply with bitcoin’s 11% decline over the identical timeframe.