Core Scientific paid about $444.3 million in cash to acquire Polaris DS, securing roughly 440 MW of grid‑connected power capacity. The added capacity broadens its power portfolio, supporting the planned 1.5 GW Muskogee expansion and enhancing its ability to serve AI‑driven colocation customers.

Key Highlights

  • Core Scientific completed the Polaris DS Acquisition on August 13 2026, paying approximately $444.3 million in cash.
  • The transaction secures about 440 MW of grid‑connected power currently supplied under Oklahoma Gas & Electric agreements.
  • The company aims to scale its Muskogee campus to roughly 1.5 GW of gross power, targeting delivery of an additional 82 MW in the second half of 2027.

Core Scientific announced the closing of its Polaris DS acquisition on August 13 2026, delivering a cash outlay of roughly $444.3 million. The deal adds approximately 440 MW of grid‑connected power to the firm’s portfolio, directly supporting its high‑density colocation strategy. By absorbing Polaris’ existing electricity contracts, the company moves nearer to its Muskogee campus target of 1.5 GW gross power.

The immediate effect is a sizable boost to capacity that can be allocated to AI workloads and other power‑intensive customers.

Acquisition Details

The purchase price of $444.3 million was paid in cash, with a portion held In Escrow to protect indemnification commitments. The agreement includes a clause that could raise the total consideration by $40 million should an extra 40 MW of firm electric capacity become available before December 31 2026. Polaris DS remains a Wholly Owned Subsidiary after the merger, preserving its operational framework under the company’s umbrella.

The cash component reflects the firm’s Liquidity position and willingness to invest heavily in power assets. The escrow arrangement underscores the focus on risk mitigation within the transaction. By retaining the target as a subsidiary, Core Scientific can smoothly integrate the 440 MW of capacity into its existing Data Center footprint.

This structure enables a swift transition of power Assets to support new colocation contracts, expanding service reach without delay. The clause for additional payment ties future capacity gains directly to the acquisition price, aligning incentives for rapid power development.

Power Portfolio Expansion

Securing 440 MW of grid‑connected capacity directly reinforces the company’s plan to enlarge its Muskogee campus to roughly 1.5 GW of gross power. The target includes approximately 1.0 GW of leasable power, indicating a focus on customer‑facing capacity rather than total generation. The existing contracts with Oklahoma Gas & Electric provide a reliable Supply foundation for current operations.

Adding this capacity positions the firm to meet growing Demand from artificial intelligence‑driven workloads that require high‑density power. The Muskogee site will combine grid‑connected and behind‑the‑meter solutions to achieve its power goals. The acquisition also broadens the geographic distribution of the firm’s power assets, reducing reliance on a single source.

By integrating the new capacity, the company can accelerate the rollout of additional megawatts to customers. This bolstered power base enhances the firm’s competitive stance in the high‑density colocation market. The ability to source and allocate 440 MW immediately improves service reliability, a critical Factor for data centers handling mission‑critical AI tasks.

Timing and Strategic Fit

Completing the Polaris deal just weeks before the end of the calendar year underscores a rapid execution tempo. The potential $40 million uplift reflects confidence that additional capacity will become available before the December 31 2026 deadline. The firm’s emphasis on expanding its Muskogee campus to 1.5 GW demonstrates a long‑term view that extends beyond the immediate addition of power.

The timing also coincides with the company’s plan to deliver roughly 82 MW of new capacity at Muskogee in the second half of 2027. This sequencing suggests a deliberate build‑out strategy that leverages newly acquired power assets. The acquisition’s cash nature indicates the firm’s strong balance sheet, enabling swift Capital deployment.

By securing power assets now, the company mitigates the risk of future supply constraints that could hamper growth. The strategic fit of the Polaris assets amplifies the firm’s ability to attract AI‑centric customers seeking dependable, high‑capacity colocation services.

Forward Catalyst

The company is on track to provide an additional 82 MW of capacity at its Muskogee campus beginning in the second half of 2027. This rollout will test the integration of the newly acquired power and its impact on Customer Service levels. Management will monitor the availability of the extra 40 MW of firm electric capacity that could trigger the $40 million purchase price increase before year‑end.

The outcome of that contingency will be evident after December 31 2026, offering a clear metric of the transaction’s final financial scope. Future quarterly reports will likely detail progress toward the 1.5 GW Muskogee target, allowing investors to assess whether the acquisition accelerates the intended build‑out. The forthcoming capacity delivery serves as a tangible indicator of the firm’s execution capability in high‑density colocation infrastructure.

Observers will watch for any adjustments in power procurement strategy that could affect the company’s growth trajectory. The next Earnings release will therefore provide insight into how the added 440 MW translates into Revenue and operational performance.