Core Scientific plans private offering of $3.3B in senior secured notes

Cryptocurrency mining firm Core Scientific (CORZ) has announced plans for a private offering of $3.3 billion in senior secured notes. The notes, which will be issued through a subsidiary, are set to mature in 2031. Proceeds from the offering will be used to fund a debt service reserve, with the remaining amount to be distributed as a dividend to the parent company, Core Scientific.