Core Scientific has finalized its acquisition of Polaris DS LLC, a strategic move to bolster its high-density colocation infrastructure. The deal, valued at approximately $444 million in cash, secures 440 megawatts of grid-connected power capacity currently in service via Oklahoma Gas & Electric. This acquisition significantly expands Core Scientific's power portfolio to support long-term digital infrastructure growth.
Securing 440 MW via Polaris DS Acquisition
The transaction allows Core Scientific to integrate approximately 440 megawatts of gross, grid-connected power capacity into its existing operations. This capacity is currently utilized by Polaris under established electric service agreements with Oklahoma Gas & Electric. By completing this $444 million cash acquisition, Core Scientific has demonstrated a clear mandate to aggressively secure large-scale power assets. CEO Adam Sullivan noted that this move is part of a broader strategy to expand the company's power portfolio, following other site acquisitions this year that added over 600 MW of leasable power to the company's total infrastructure footprint.
Scaling the 1.5 GW Muskogee Campus
Core Scientific is leveraging this acquisition to advance its ambitious expansion of the Muskogee campus. The company aims to scale the site to approximately 1.5 GW of gross power, which translates to roughly 1.0 GW of leasable capacity. This scaling will be achieved through a strategic mix of grid-connected and behind-the-meter solutions. Regarding immediate delivery timelines, the company confirmed it remains on track to provide the next 82 MW of capacity at the Muskogee site to its customers starting in the second half of 2027. This phased deployment underscores the company's focus on long-term infrastructure execution.
Key Takeaways
- Core Scientific completed the Polaris DS LLC acquisition for approximately $444 million in cash.
- The deal secures 440 MW of gross, grid-connected power capacity via Oklahoma Gas & Electric.
- The Muskogee campus expansion target is 1.5 GW of gross power, including 1.0 GW of leasable power.
EnergyInsyte's Take
In our view, Core Scientific’s $444 million acquisition of Polaris DS signals a decisive shift toward securing massive, grid-connected power blocks to dominate the high-density colocation market. By targeting 1.5 GW at the Muskogee campus through both grid and behind-the-meter solutions, the company is mitigating traditional utility constraints. This aggressive capital deployment suggests that securing large-scale, reliable power capacity is now the primary competitive moat for digital infrastructure providers.
Questions & Answers
How does the Polaris acquisition impact Core Scientific's total power capacity?
The acquisition adds 440 MW of grid-connected power to the portfolio, contributing to a broader expansion that has already added over 600 MW of leasable power this year.
What is the long-term development goal for the Muskogee campus?
Core Scientific intends to scale the Muskogee campus to 1.5 GW of gross power, which is expected to provide approximately 1.0 GW of leasable capacity.
What is the timeline for the next phase of power delivery at Muskogee?
The company is scheduled to deliver the next 82 MW of capacity at the Muskogee site to its customers beginning in the second half of 2027.
What power sourcing strategies is Core Scientific employing for its expansion?
The company is utilizing a combination of grid-connected solutions and behind-the-meter solutions to reach its 1.5 GW gross power target.
Source: BUSINESSWIRE
