$421M Polaris Acquisition Fuels Core Scientific's Oklahoma AI Data Center Expansion
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Core Scientific is acquiring Polaris DS LLC, an Oklahoma-based bitcoin miner, for $421 million. This strategic acquisition provides Core Scientific with 440 megawatts of contracted power and an actively operating 40-acre campus adjacent to its existing Muskogee operations, significantly expanding its AI data center capacity. This move follows Core Scientific's recent announcement of a major expansion of its Pecos, Texas campus for AI infrastructure, underscoring an aggressive strategic pivot from bitcoin mining to high-density computing and AI data center services. The $421 million deal, a material investment for Core Scientific, is critical for its transformation strategy and is expected to enhance its ability to meet the growing demand for AI and compute-intensive workloads. The acquisition is expected to close in Q3 2026, subject to regulatory approval, and investors will monitor the integration of Polaris and the progress of Core Scientific's broader AI infrastructure build-out.
At the time of this announcement, CORZ was trading at $24.22 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $7.3B. The 52-week trading range was $8.47 to $24.35. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: The Block.