Core Scientific acquires Bitcoin mining firm Polaris for $421 million to expand AI data center

Odaily Planet Daily News: Core Scientific announced the acquisition of Oklahoma-based Bitcoin mining company Polaris DS LLC for $421 million. Through this acquisition, Core Scientific will gain access to Polaris's 440-megawatt contracted power from Oklahoma Gas & Electric, aiming to rapidly expand its AI business. The deal is expected to be completed in the third quarter of 2026.

Currently, Core Scientific is retrofitting and expanding its existing mining sites in Texas, Georgia, North Carolina, and Oklahoma to support high-density hosting services for AI and compute-intensive workloads. The company has broken ground on a new 82.5-megawatt facility in Muskogee and plans to eventually offer 1 gigawatt of leasable power at the site.