Core Scientific Shares Rise on AI Data Center Expansion Plan

Dow Jones

May 07

By Emon Reiser

Shares of Core Scientific were on the rise after the data center builder said it will expand its operations in Muskogee, Okla., with a $421 million acquisition.

The stock rose 10.7%, to $24.56 in Wednesday trading. Shares are up 53.6% year to date.

Core Scientific said it inked a deal to buy bitcoin miner Polaris DS LLC with the goal of reaching 1.5 gigawatts of gross power, or 1 gigawatt of leasable power, at its Muskogee campus. The acquisition target has contracted 440 megawatts of gross power under an agreement with Oklahoma Gas & Electric, and is actively being utilized, the company said.

The purchase price will increase by an additional $40 million if an additional 40 megawatts of firm electric capacity becomes available to Polaris DS, according to a filing with the Securities and Exchange Commission. The deal is expected to close in the third quarter.

Core Scientific said it broke ground on a second, unleashed 82.5 megawatt building in Muskogee, with delivery expected in the fourth quarter of 2027. The company in March said its 70-megawatt, 138,000 square-foot data center, designed to support the Nvidia GB300 platform, completed vertical construction, was fully energized, and on track for delivery in the second quarter.

Write to Emon Reiser at emon.reiser@wsj.com

(END) Dow Jones Newswires

May 06, 2026 13:51 ET (17:51 GMT)

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Shares are up 53.6% year to date. \n\n\n  Core Scientific said it inked a deal to buy bitcoin miner Polaris DS LLC with the goal of reaching 1.5 gigawatts of gross power, or 1 gigawatt of leasable power, at its Muskogee campus. The acquisition target has contracted 440 megawatts of gross power under an agreement with Oklahoma Gas & Electric, and is actively being utilized, the company said. \n\n\n  The purchase price will increase by an additional $40 million if an additional 40 megawatts of firm electric capacity becomes available to Polaris DS, according to a filing with the Securities and Exchange Commission. The deal is expected to close in the third quarter. \n\n\n  Core Scientific said it broke ground on a second, unleashed 82.5 megawatt building in Muskogee, with delivery expected in the fourth quarter of 2027. 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