Core Scientific completed its acquisition of Polaris DS this week, a deal that hands the Austin-based company roughly 440 megawatts of grid-connected power capacity at a site in Muskogee, Oklahoma. The transaction, first announced in May 2026, carried a cash value of 444 million dollars and included 40 acres of land.
Polaris had been using the power allocation, secured under existing agreements with Oklahoma Gas and Electric, to run bitcoin mining operations at the Muskogee site. With the deal closed, Core Scientific can move forward with plans to expand its adjacent campus to 1.5 gigawatts of gross power and 1 gigawatt of leasable capacity, combining grid connections with behind-the-meter generation.
Core Scientific said the acquisition fits a broader strategy of adding power capacity through site purchases this year, which the company said has added more than 600 megawatts of leasable power to its portfolio. The company expects to deliver the next 82 megawatts of capacity at the Muskogee campus to an unnamed customer starting in the second half of 2027. An earlier 70 megawatt building at the site was already set for handover to CoreWeave in the second quarter of 2026.
Founded in 2017 as a cryptomining data center operator, Core Scientific has pivoted toward AI data center development in recent years. The company now operates facilities across Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas, part of an industry pattern in which AI infrastructure developers are acquiring crypto mining sites largely for their existing grid interconnections.
Source: Data Center Dynamics - https://www.datacenterdynamics.com/en/news/core-scientific-completes-acquisition-of-polaris-ds/