Core Scientific acquires Polaris DS for $421M to boost AI power
4.5 Investments Core Scientific will acquire Polaris DS LLC for $421M, securing 440 MW of power to expand AI data center operations in Oklahoma. The deal, set to close in Q3 2026, accelerates Core Scientific’s move into AI infrastructure.
Core Scientific has announced the $421 million acquisition of Oklahoma-based Bitcoin mining company Polaris DS LLC. This deal secures 440 megawatts of contracted power from Oklahoma Gas & Electric, fueling Core Scientific’s expansion into AI data center operations and high-density computing. The Polaris site covers 40 acres next to Core Scientific’s Muskogee campus, featuring active infrastructure and energy connections. Construction is underway on a new 82.5-megawatt facility, with plans to eventually provide 1 gigawatt of leasable power. The transaction, to be completed in cash and stock, is expected to close in Q3 2026, pending regulatory approval. Core Scientific is also upgrading mining facilities in Texas, Georgia, North Carolina, and Oklahoma to support high-density hosting for AI and compute-intensive workloads. Following the announcement, Core Scientific shares surged, reflecting investor optimism about the company’s pivot toward AI infrastructure.
