Core Scientific Completes Acquisition of Polaris DS, Advancing Planned Muskogee Expansion to 1.5 GW of Gross Power

Core Scientific Completes Acquisition of Polaris DS, Advancing Planned Muskogee Expansion to 1.5 GW of Gross Power

Core Scientific, Inc. (Nasdaq: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for high-density colocation (“HDC”), today announced that it has completed its previously announced acquisition of Polaris DS LLC (“Polaris”).

Through the acquisition, Core Scientific has secured the approximately 440 currently in service megawatts (“MW”) of gross, grid-connected power capacity being used by Polaris under existing electric service agreements with Oklahoma Gas & Electric. The aggregate purchase price for the acquisition was approximately $444 million in cash.

“The Polaris acquisition is another example of how we are strategically expanding our power portfolio to support our long-term growth,” said Adam Sullivan, Chief Executive Officer of Core Scientific. “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.”

Core Scientific reiterates its plan to scale its Muskogee campus to approximately 1.5 GW of gross power, or approximately 1.0 GW of leasable power, through a combination of grid-connected and behind-the-meter solutions. The Company is on track to deliver the next approximately 82 MW at Muskogee to its customer beginning in the second half of 2027.