Core Scientific announced the acquisition of Polaris DS LLC, a bitcoin miner based in Oklahoma, for $421 million, according to a recent press release. The deal grants control over approximately 440 megawatts of contracted power through Oklahoma Gas & Electric, which will allow the company to scale its artificial intelligence operations exponentially.
Polaris’s 40-acre campus is fully operational and adjacent to Core Scientific’s existing facilities in Muskogee, including an electrical substation and service agreements with OG&E. The transaction is expected to close during the third quarter of 2026, subject to regulatory approval. The company has already begun construction of a new 82.5 MW plant on that same campus, with delivery scheduled for the fourth quarter of 2027, targeting 1 GW of long-term leasable power.
Adam Sullivan, CEO of Core Scientific, noted that the deal demonstrates “the scalability of the model” by combining acquisitions, development expertise, and energy solutions to deploy capacity at scale. The firm has been transforming its mining facilities in Texas, Georgia, North Carolina, and Oklahoma to convert them into high-density colocation services oriented toward AI.
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