Core Scientific Closes Polaris DS Deal, Targets 1.5 GW Muskogee Expansion
CORZ sits 51% above its 52-week low of $13.135.
Summary
Core Scientific completed its acquisition of Polaris DS, a move that advances its planned Muskogee expansion to 1.5 GW of gross power. This follows strong Q2 results where AI/HPC colocation revenue surged from $10.6M to $164.2M, signaling aggressive scaling in high-performance computing infrastructure. The acquisition adds immediate capacity and accelerates the company's transition toward AI data center hosting, a key growth driver. With Bitcoin mining revenue now secondary, this deal reinforces the strategic pivot and could support further multiple expansion. Watch for updated capex guidance and customer announcements tied to the expanded Muskogee site.
At the time of this announcement, CORZ was trading at $19.88 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $6.4B. The 52-week trading range was $13.14 to $30.46. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.