Overview
- Core Scientific shares rose 10.88% to $24.61 in early trading after it announced the $421 million Polaris deal.
- The purchase would add 440 megawatts of contracted power in Muskogee, Oklahoma through Oklahoma Gas & Electric.
- The company said the deal needs regulatory clearance, with closing targeted for the third quarter of 2026.
- At Muskogee, a 70 MW building is slated for customer delivery in Q2 2026 and a new 82.5 MW hall targets initial delivery in Q4 2027, with racks designed for Nvidia GB300 systems.
- Recent results show total revenue fell to $79.8 million year over year while colocation revenue rose to $31 million and Bitcoin mining revenue dropped to $42 million.