Core Scientific buys Polaris Bitcoin Mine for $421M to expand AI power capacity in Oklahoma

Core Scientific is acquiring Polaris DS LLC, a bitcoin mining operation in Oklahoma, for $421 million to expand its AI and high-performance computing power capacity to about 1.5 gigawatts. The acquisition includes 440 MW of contracted power and an active site, enabling faster deployment for AI customers compared to new developments. The deal is expected to close in Q3 2026, with plans to repurpose the site for AI infrastructure while winding down existing mining operations by mid-2028. This move reflects a broader trend of repurposing bitcoin mining facilities for AI data centers, supported by Oklahoma's favorable energy policies.