Core Scientific (CORZ) Acquires Polaris, Expands to 1.5 GW Capacity

Core Scientific, Inc. (NASDAQ: CORZ), a leading U.S.-based digital infrastructure provider, has finalized its $444 million acquisition of Polaris DS LLC, securing an additional 440 megawatts (MW) of grid-connected power capacity. The move is a major step in Core Scientific’s strategy to scale its Muskogee, Oklahoma campus to 1.5 gigawatts (GW) of gross power, with 1.0 GW available for leasing to customers. The company plans to deliver the next 82 MW of capacity at Muskogee by the second half of 2027.

The acquisition includes Polaris’s existing electric service agreements with Oklahoma Gas & Electric, boosting Core Scientific’s ability to support high-density colocation (HDC) services for artificial intelligence (AI) and other high-performance computing (HPC) workloads. CEO Adam Sullivan highlighted this acquisition as a critical part of the company’s growth strategy, noting that Core Scientific has added over 600 MW of leasable power to its portfolio this year alone.

This expansion comes as Core Scientific continues to reposition itself toward AI and HPC infrastructure, while maintaining exposure to digital asset mining. The shift appears to be paying off: in Q2 2026, the company reported $164.2 million in revenue, more than doubling the $78.6 million from the same period last year. Much of this growth stemmed from its colocation business, a key focus area as it repurposes its remaining mining facilities to support HDC services. However, profitability remains an issue, with a net loss of $1.16 billion in the same quarter, driven by impairments and restructuring costs.

Core Scientific’s stock (CORZ) was trading at $19.78 as of August 14, 2026, down 5.17% over the past 24 hours. The company’s market capitalization currently stands at $6.44 billion. The recent downturn in price likely reflects broader market volatility rather than specific concerns over the Polaris acquisition, which aligns with Core Scientific’s long-term strategy to scale its AI infrastructure offerings.

In July 2026, Core Scientific announced a partnership with AMD to provide up to 2.5 GW of data center capacity for end-customer AI deployments. This synergy between infrastructure providers and AI hardware manufacturers underscores the growing demand for high-density, energy-efficient facilities capable of supporting compute-intensive workloads.

Core Scientific operates 11 facilities across seven states, including major campuses in Texas, Georgia, and Oklahoma. As the company continues to pivot toward AI and HPC services, the Muskogee expansion could significantly enhance its competitiveness in a rapidly growing market for digital infrastructure.

Investors will be closely watching Core Scientific’s execution on the Muskogee build-out and its ability to capitalize on the AI-driven demand for colocation services. With the next tranche of capacity expected in late 2027, the company’s ability to secure power, infrastructure components, and customer contracts will be critical to its long-term growth trajectory.

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