PANews April 21 news, according to The Block, Bitcoin mining company Core Scientific's wholly-owned subsidiary Core Scientific Finance plans to privately issue senior secured notes totaling $3.3 billion, maturing in 2031, to qualified institutional investors. The notes will be fully guaranteed by five subsidiaries of the company, with a first-priority security interest set over nearly all its assets. The company intends to inject part of the net proceeds into a debt repayment reserve and allocate it to the parent company for the full repayment of previously announced delayed withdrawal term loans and their accrued interest and related fees under a 364-day revolving credit line. This bond issuance is progressing in tandem with the company’s new construction and renovation projects for data centers in multiple states in the U.S. Core Scientific is accelerating its shift from proprietary Bitcoin mining to high-density hosting services for AI clients and plans to sell nearly all of its Bitcoin holdings by 2026 to support expansion.

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