Core Scientific to buy Bitcoin miner Polaris, stock jumps 11%

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Following its bankruptcy recovery, Core Scientific shifts focus from Bitcoin mining to AI data center expansions.

Core Scientific announced on Wednesday a multi-phase strategy to grow its Muskogee, Oklahoma campus to around 1.5 GW of gross power capacity, including about 1.0 GW of leasable infrastructure for high-density colocation.

The initiative includes an agreement to acquire Polaris DS LLC, which brings 440 MW of contracted power through Oklahoma Gas & Electric. The acquisition is expected to close in the third quarter of 2026 using existing liquidity, subject to customary conditions.

Core Scientific to buy Bitcoin miner Polaris, stock jumps 11%

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