Core Scientific buy Polaris mine for $421M to add AI power for Oklahoma

Core Scientific (NASDAQ: CORZ) don agree to buy Polaris DS LLC, one neighbouring Bitcoin mining operator, for $421 million. The deal na dem dey make their Muskogee, Oklahoma campus reach about ~1.5 GW gross power (around ~1 GW wey fit be leased) for AI and high-performance computing, using Polaris’ 440 MW contracted electricity through Oklahoma Gas & Electric. The Muskogee site don already get power and dey operate, wey fit help Core Scientific meet AI data center demand faster than to build new grid. The transaction dey expected to close in Q3 2026, subject to regulatory approvals. New updates: Core Scientific still dey build extra 82.5 MW facility for Muskogee for delivery in Q4 2027, and their existing 70 MW Nvidia GB300 platform-related build still dey on track for customer delivery in Q2 2026. Core Scientific no go directly acquire Polaris’ active Bitcoin mining business; instead dem go transfer employees, customer contracts, and intellectual property before closing through pre-closing reorganization. Polaris’ mining operations go wind down in phases through mid-2028 under temporary leaseback as dem repurpose the site for higher-density compute. Deal terms: the price fit rise to $461 million if Polaris secure extra 40 MW of firm electric capacity by end of 2026. Core don already place $120 million for escrow deposits and dem plan to fund the purchase using existing liquidity. For crypto traders, this one reinforce the shift from Bitcoin mining to AI infrastructure powered by contracted grid access.