Core Scientific completes $444 million Polaris acquisition

• Core Scientific completed its approximately $444 million cash acquisition of Polaris DS, securing about 440 MW of active grid-connected power capacity.
• Core Scientific shares were down about 5.2% at $19.78 in premarket trading following the announcement.
• The company says Polaris supports its plan to expand the Muskogee campus toward 1.5 GW of gross power and about 1.0 GW of leasable capacity.

Core Scientific (NASDAQ:CORZ) completed its $444 million cash acquisition of Polaris DS, securing approximately 440 MW of active grid-connected power capacity in Oklahoma.

The deal closes after Core originally agreed in May to acquire Polaris, whose assets include land, a substation and electric service agreements with Oklahoma Gas & Electric.

Core says it plans to scale Muskogee to about 1.5 GW of gross power and 1 GW of leasable power, with another 82 MW targeted for customer delivery beginning in the second half of 2027.

Following the announcement , Core Scientific' share price was down 5.2% at $19.78 in premarket trading.

Core also completed a roughly $232.5 million Hunt County acquisition in May, adding a site supported by approximately 430 MW of expected gross power capacity.

In July, Core and AMD announced 15-year agreements covering about 530 MW, which Core says could represent more than $14 billion of potential base contracted revenue.