Core Scientific has invested $421 million to acquire the Bitcoin mining firm Polaris to expand its AI data center.

BlockBeats News, May 6th, Core Scientific announced the acquisition of the Oklahoma-based Bitcoin mining firm Polaris DS LLC for $421 million. Through this acquisition, Core Scientific will gain access to Polaris's 440-megawatt power contract with Oklahoma Gas & Electric, aimed at rapidly expanding its AI business. The transaction is expected to be completed in the third quarter of 2026.

Currently, Core Scientific is retrofitting and expanding its existing mining facilities in Texas, Georgia, North Carolina, and Oklahoma to support high-density hosting services for AI and compute-intensive workloads. The company has broken ground on a new 82.5-megawatt facility in Muskogee and plans to eventually offer 1 gigawatt of leasable power in the park.