Core Scientific has finalized its acquisition of Polaris DS LLC, a strategic move to expand its high-density colocation infrastructure. By securing this deal, the company integrates significant power capacity into its portfolio, directly supporting its long-term growth objectives and scaling its ability to provide critical digital infrastructure for high-demand enterprise workloads and large-scale computing requirements.
Core Scientific Secures 440 MW via Polaris Acquisition
The acquisition of Polaris DS LLC was completed for an aggregate purchase price of approximately $444 million in cash. This transaction allows Core Scientific to secure approximately 440 megawatts (MW) of gross, grid-connected power capacity. This capacity is currently in service and operates under existing electric service agreements with Oklahoma Gas & Electric. CEO Adam Sullivan noted that this acquisition is part of a broader strategy to expand the company's power portfolio, following other site acquisitions this year that have added more than 600 MW of leasable power to the company's total infrastructure footprint.
Scaling the Muskogee Campus to 1.5 GW
Core Scientific is leveraging these new assets to advance its planned expansion of the Muskogee campus. The company intends to scale this specific location to approximately 1.5 GW of gross power, which translates to roughly 1.0 GW of leasable power. This scaling will be achieved through a combination of grid-connected and behind-the-meter solutions. Regarding immediate delivery timelines, the company remains on track to provide the next 82 MW at the Muskogee site to its customers, with deployment expected to begin during the second half of 2027.
Key Takeaways
- Core Scientific acquired Polaris DS LLC for approximately $444 million in cash.
- The deal adds 440 MW of gross, grid-connected power capacity via Oklahoma Gas & Electric agreements.
- The Muskogee campus expansion aims for a total of 1.5 GW of gross power.
TechInsyte's Take
In our view, this acquisition signals a massive shift toward securing massive-scale power as the primary competitive moat in digital infrastructure. By spending $444 million to lock in 440 MW, Core Scientific is prioritizing long-term energy certainty over immediate liquidity. This aggressive expansion toward a 1.5 GW capacity at Muskogee suggests that the company is positioning itself to dominate the high-density colocation market as enterprise demand for power-intensive computing continues to surge.
Questions & Answers
How does the Polaris acquisition impact Core Scientific's power capacity?
The acquisition adds approximately 440 MW of gross, grid-connected power capacity to the portfolio, utilizing existing agreements with Oklahoma Gas & Electric.
What is the long-term scaling goal for the Muskogee campus?
Core Scientific aims to scale the Muskogee campus to 1.5 GW of gross power, providing approximately 1.0 GW of leasable power through grid and behind-the-meter solutions.
When will the next phase of power delivery at Muskogee occur?
The company is scheduled to deliver the next 82 MW of capacity at the Muskogee campus to its customers starting in the second half of 2027.
What was the financial scale of the Polaris DS transaction?
The total purchase price for the acquisition of Polaris DS LLC was approximately $444 million, paid in cash.
Source: Businesswire
