Core Scientific (NASDAQ: CORZ) is expanding its Oklahoma footprint through a $421 million acquisition of a neighboring bitcoin mining operation, as the company races to assemble gigawatt-scale power capacity for AI and high-performance computing customers.
This article first appeared in The Energy Mag. The original article can be viewed here. The Energy Mag (formerly The Miner Mag) provides news, data, and insights on the energy–compute–markets nexus.
The company said Tuesday it plans to scale its Muskogee, Oklahoma campus to roughly 1.5 gigawatts of gross power, or about 1 gigawatt of leasable capacity, by combining acquisitions, grid expansion and behind-the-meter generation strategies.
At the center of the expansion is Core Scientific’s agreement to acquire Polaris DS LLC, a bitcoin mining operator that controls 440 megawatts of contracted power through Oklahoma Gas & Electric. The site is already energized and actively operating, allowing Core to potentially accelerate delivery timelines for future AI customers compared with greenfield developments that can take years to secure utility approvals and transmission access.
The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and other conditions.
