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Home/Deal Room/Core Scientific targets 1.5 GW Muskogee AI campus with Polaris buy

Data centers · Evidence brief

Core Scientific targets 1.5 GW Muskogee AI campus with Polaris buy

Core Scientific + Polaris DS + Oklahoma Gas & Electric

Primary sourceSEC summary2026-05-06
Deal structurePower-and-land acquisition / high-density AI data-center campus expansion
GeographyMuskogee, Oklahoma / Oklahoma Gas & Electric service territory
Infrastructure layersData centers + power + cloud capacity
Disclosed scaleApproximately 1.5 GW gross power target, or about 1.0 GW leasable power, for Muskogee campus; Polaris acquisition brings 440 MW of contracted gross power under OG&E energy agreements and about 40 acres adjacent to existing operations

Why it matters

The strategic read

Adds another crypto-to-AI conversion pathway at gigawatt scale. Core Scientific is using acquisitions, grid expansion, behind-the-meter generation planning and adjacent land control to turn Muskogee from a single leased GB300-ready building into a 1 GW leasable high-density compute campus.

Source-supported terms

What was disclosed

  1. 01

    Core Scientific announced a multi-tiered strategy to scale its Muskogee, Oklahoma campus to approximately 1.5 GW of gross power, or approximately 1.0 GW of leasable power.

  2. 02

    As part of the strategy, Core Scientific entered into an agreement to acquire Polaris DS LLC, which has contracted 440 MW of gross power under an energy agreement with Oklahoma Gas & Electric.

  3. 03

    The 8-K says Polaris material assets at closing will consist of about 40 acres adjacent to Core Scientific’s existing Muskogee data-center operations, an electrical substation, electric service agreements providing up to 440 MW of continuous electricity, and related utility contracts.

  4. 04

    The 8-K gives an approximately $421M cash purchase price, subject to adjustments, with an additional $40M payable if another 40 MW of firm electric capacity becomes available before December 31, 2026.

  5. 05

    Core Scientific said the transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and customary closing conditions.

  6. 06

    The company said construction has already begun on a second, unleased 82.5 MW building, with initial delivery expected in the fourth quarter of 2027.

  7. 07

    Core Scientific said its current leased 70 MW Muskogee building designed to support the NVIDIA GB300 platform is in final testing and commissioning, with second-quarter 2026 delivery to its customer on track.

  8. 08

    Core Scientific also has load studies underway for grid-connected expansion and has developed a scalable behind-the-meter solution plan supported by approximately 250 acres of secured land.

Disclosure boundary

What is known—and what is not

SEC-filed press-release exhibit plus 8-K merger-agreement summary; acquisition remains subject to closing conditions, future customer leases, full power-delivery milestones, grid-expansion study results, behind-the-meter generation plan, construction contracts, financing links and operating economics are not public in full.