Core Scientific announced it has entered into a new Credit Agreement, effective August 25, 2026, providing access to a senior secured revolving credit facility of up to $100.0 million and a letter of credit facility of up to $500.0 million. The facilities will be used for general corporate purposes, working capital, and to provide credit support for utility agreements. As of the closing date, no amounts were outstanding under either facility.
Key Details
- Facilities: The agreement includes a $100.0 million senior secured revolving credit facility and a $500.0 million letter of credit facility, with JPMorgan Chase Bank, N.A. serving as the administrative agent.
- Terms & Maturity: The facilities have a three-year maturity from the August 25, 2026, closing date, with a company option to extend for a fourth year. Obligations are secured by a first-priority lien on substantially all company assets.
- Financial Covenants: The agreement requires the company to maintain minimum liquidity of $150.0 million at the end of each fiscal quarter. Additionally, each borrowing under the revolving facility is conditioned on the company having a minimum market capitalization of at least $3.0 billion.