AcquisitionsMay 6, 2026, 08:01 AM
Core Scientific Acquires Polaris DS LLC for $421M, Plans 1.5 GW Expansion
AI Summary
Core Scientific, Inc. has entered into an agreement to acquire Polaris DS LLC for approximately $421 million in cash, with a potential increase of $40 million. This acquisition is a key part of Core Scientific's multi-tiered strategy to expand its Muskogee, Oklahoma campus to approximately 1.5 gigawatts of gross power. The deal includes 40 acres of land, an electrical substation, and electrical service agreements providing up to 440 megawatts of continuous electricity. The transaction, expected to close by early in the third quarter of 2026, will significantly accelerate the company's capacity for high-density colocation services.
Key Highlights
- Core Scientific to acquire Polaris DS LLC for approximately $421 million in cash.
- Purchase price may increase by an additional $40 million for 40 MW firm electric capacity.
- Acquisition includes 40 acres of land and 440 MW of contracted power capacity.
- Company plans to expand its Muskogee campus to approximately 1.5 GW gross power.
- A $120 million cash deposit has been made into an interest-bearing escrow account.
- Acquisition expected to close by early Q3 2026, subject to regulatory approvals.
- Construction has begun on an 82.5 MW building, with initial delivery by Q4 2027.