A good buy, Core Scientific buys Polaris DS for $444M, adding 440 MW of power

Core Scientific, Inc. (Nasdaq: CORZ) has completed its acquisition of Polaris DS LLC for approximately $444 million in cash, securing around 440 megawatts of gross, grid-connected power capacity in Oklahoma.

The acquired power capacity operates under existing electric service agreements with Oklahoma Gas & Electric. According to a press release, the transaction gives Core Scientific additional leasable power to support its data center operations.

Chief Executive Officer Adam Sullivan said the company has added more than 600 megawatts of leasable power to its portfolio through site acquisitions this year. “Through site acquisitions this year, we have added more than 600 MW of leasable power to our portfolio, while continuing to further scale our campuses,” Sullivan said.

Core Scientific stated it plans to scale its Muskogee, Oklahoma campus to approximately 1.5 gigawatts of gross power, or roughly 1.0 gigawatts of leasable power, through a combination of grid-connected and behind-the-meter solutions. The company said it expects to deliver the next approximately 82 megawatts at the Muskogee campus to a customer in the second half of 2027.