%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Cryptoprowl / Core Scientific (NASDAQ: $CORZ ) is planning to raise $3.3 billion U.S. through a junk bond sale as it pivots toward artificial intelligence (A.I.) data centres. The bond sale comes after Core Scientific, previously a pureplay Bitcoin (CRYPTO: $BTC ) miner, sold $175 million U.S. of BTC in March of this year to help fund its A.I. transition. Core Scientific isn't alone in tapping the bond market. Borrowers linked to A.I. infrastructure have raised $17.9 billion U.S. in junk bonds so far this year. The U.S. company is in the process of building six large-scale data centres that will support A.I. workloads, with the capacity leased to CoreWeave (NASDAQ: $CRWV ) under a 12-year agreement that could bring in $10 billion U.S. of revenue. Core Scientific said it plans to use proceeds from the bond sale to repay existing debt and fund its cash reserves. It also plans to use the money to support construction of its data centres. Core Scientific was founded in 2017 and grew into one of North America's largest Bitcoin miners before filing for Chapter 11 bankruptcy in December 2022. The company emerged from a bankruptcy restructuring in January 2024 and was relisted on the Nasdaq (NASDAQ: $NDAQ ) stock exchange under the ticker symbol "CORZ." Core Scientific's stock has risen 200% in the last 12 months to trade at $20.77 U.S. per share.