Polaris Acquired by Core Scientific | Technology M&A Deal

Core Scientific has completed the acquisition of Polaris, a technology other business in Oklahoma, for $421 million. Core Scientific acquires Polaris DS LLC, a bitcoin mining operator with contracted power capacity of 440 MW in Muskogee, Oklahoma, supporting energy-intensive compute workloads. The Polaris acquisition provides existing energized infrastructure and land assets that can accelerate Core Scientific’s Oklahoma AI data center expansion and high-performance computing colocation plans. The strategic acquisition is structured as a platform acquisition by a strategic buyer, with a $120 million escrow deposit and an additional $40 million contingent payment tied to securing more power by year-end 2026. The deal is announced and expected to close in Q3 2026, subject to regulatory approvals and customary conditions.