"Core Scientific's agreement to acquire Polaris DS LLC, a bitcoin mining operator that controls 440 megawatts of contracted power through Oklahoma Gas & Electric. The site is already energized and actively operating, allowing Core to potentially accelerate delivery timelines for future AI customers compared with greenfield developments that can take years to secure utility approvals and transmission access."
"The deal highlights how large bitcoin mining campuses originally built for energy-intensive cryptocurrency operations are increasingly becoming strategic targets in the AI infrastructure race because they already possess scarce grid access, substations and high-capacity electrical infrastructure."
"The Polaris acquisition would add roughly 40 acres adjacent to Core Scientific's current Muskogee operations, including a substation and electric service agreements with OG&E."
Core Scientific plans to scale its Muskogee, Oklahoma campus to approximately 1.5 gigawatts of gross power through acquisitions, grid expansion, and behind-the-meter generation. The company is acquiring Polaris DS LLC, a bitcoin mining operator controlling 440 megawatts of contracted power through Oklahoma Gas & Electric. This acquisition provides immediate grid access and electrical infrastructure, enabling faster deployment for AI customers compared to greenfield developments requiring years for utility approvals. The transaction closes in Q3 2026. Core is simultaneously constructing an 82.5 megawatt unleased building with Q4 2027 delivery and maintaining its 70 megawatt Nvidia GB300 facility for Q2 2026 delivery. Bitcoin mining campuses are increasingly targeted for AI infrastructure due to their existing scarce grid access, substations, and high-capacity electrical systems.
#ai-infrastructure #bitcoin-mining-repurposing #data-center-expansion #grid-access #energy-infrastructure
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