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

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 obtain 440 megawatts of contracted power that Polaris has signed with Oklahoma Gas & Electric, aiming to rapidly scale its AI business. The transaction is expected to close in the third quarter of 2026.

Core Scientific is currently converting 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 begun construction of a new 82.5 megawatt facility in Muskogee and plans to ultimately provide 1 gigawatt of leasable power at that campus.