Data center developer Core Scientific has secured additional financing to fuel its build-out.

The company this week announced that it closed an additional $500m commitment provided by JPMorgan Chase Bank, under the accordion feature of its previously announced 364-day credit facility announced earlier this month.

The funds will be used to develop its data center assets, including property acquisition and energy procurement.

The additional funding takes the total funded commitments under the facility to $1 billion, including the previously announced $500 million commitment from Morgan Stanley.

“We are proud to have commitments from Morgan Stanley and JPMorgan under this Facility,” said Adam Sullivan, Core Scientific CEO. “With $1 billion of total financing capacity now available, we are well positioned to execute on our development and go-to-market strategy, deploying capital to accelerate infrastructure delivery and meet the strong demand environment.”

Founded in 2017, Core Scientific began as a cryptomine data center operator, but has now pivoted to AI data center development.

The company has secured CoreWeave as a major tenant across its data centers in Texas, Georgia, Oklahoma, and North Carolina. Core Scientific also has projects in Pecos, Texas; Calvert City, Kentucky; Grand Forks, North Dakota; and Auburn, Alabama.