Core Scientific has acquired Polaris DS in a $421 million deal aimed at expanding artificial intelligence and high-performance computing infrastructure. The acquisition gives Core Scientific access to existing energy assets that were previously used for Bitcoin mining. Following the announcement, CORZ shares jumped nearly 10%.
Through this acquisition, Core Scientific will gain access to Polaris’s 440-megawatt contracted power agreement with Oklahoma Gas & Electric, aimed at rapidly expanding its AI operations. The third quarter of 2026 is when the deal is anticipated to conclude.
In order to provide high-density hosting services for AI and compute-intensive workloads, Core Scientific is actively modernizing and growing its current mining sites in Texas, Georgia, North Carolina, and Oklahoma.
The company has already broken ground on a new 82.5-megawatt facility in Muskogee and plans to ultimately provide 1 gigawatt of leasable power at the site.
The deal demonstrates that energy infrastructure is becoming one of the most valuable assets in the mining sector. Access to reliable and affordable power now supports both Bitcoin mining and AI computing operations.
Over time, the distinction between mining companies and data centre operators may continue to fade. Large firms are increasingly combining multiple computing businesses within the same infrastructure network.
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