Core Scientific (NASDAQ: CORZ) adds 440MW power capacity with Polaris DS buy
Rhea-AI Filing Summary
Core Scientific, Inc. completed its previously announced acquisition of Polaris DS LLC, making Polaris a wholly owned subsidiary through a merger with a Core Scientific subsidiary. The company paid an aggregate purchase price of $444.3 million in cash, subject to customary post-closing adjustments, and placed a portion into escrow to secure specified indemnification obligations.
The purchase price may increase by an additional $40 million in cash if an extra 40 megawatts of firm electric capacity becomes available to Polaris before December 31, 2026 under the merger terms. Through the transaction, Core Scientific secured approximately 440 MW of gross, grid-connected power capacity used by Polaris in Oklahoma and reiterated plans to scale its Muskogee campus to about 1.5 GW of gross power, or 1.0 GW of leasable power, with roughly 82 MW expected to be delivered to a customer beginning in the second half of 2027.
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8-K Event Classification
3 items: 7.01, 8.01, 9.01
3 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Purchase Price: $444.3 million in cash
Earn-out Potential: $40 million in cash
Polaris Power Capacity: approximately 440 MW
+4 more
7 metrics
Purchase Price
$444.3 million in cash
Aggregate purchase price paid for the acquisition of Polaris DS LLC
Earn-out Potential
$40 million in cash
Additional purchase price if 40 MW of firm electric capacity becomes available before December 31, 2026
Polaris Power Capacity
approximately 440 MW
Gross, grid-connected power capacity secured through Polaris under service agreements
New Leasable Power Added
more than 600 MW
Leasable power added to Core Scientific’s portfolio through site acquisitions this year
Muskogee Gross Power Target
approximately 1.5 GW
Planned gross power capacity at the Muskogee campus
Muskogee Leasable Power Target
approximately 1.0 GW
Planned leasable power capacity at the Muskogee campus
Next Muskogee Delivery
approximately 82 MW
Power expected to be delivered to a customer beginning in the second half of 2027
Key Terms
high-density colocation, gross power, leasable power, behind-the-meter solutions, +2 more
6 terms
high-density colocation technical
"designing, building and operating large scale, purpose-built data centers for high-density colocation"
High-density colocation is a data center service that places a large number of servers or powerful computing equipment into a small physical footprint, requiring higher electrical power and more robust cooling than typical hosting. For investors, it matters because it lets providers earn more revenue from the same space and infrastructure while also raising capital and operating needs for power, cooling and specialized equipment — like packing many appliances into a tiny kitchen that needs stronger wiring and ventilation.
gross power technical
"plan to scale its Muskogee campus to approximately 1.5 GW of gross power"
Gross power is the total electrical or mechanical energy a facility or machine produces before any of that output is used to run the equipment itself or lost in the system. Investors care because gross power shows the maximum production capacity a project can sell or monetize; thinking of it like the full water output from a pump before household use helps compare how big a source is independently of internal consumption and efficiency.
leasable power technical
"added more than 600 MW of leasable power to its portfolio"
Leasable power is the amount of electrical capacity a producer or owner can legally and technically offer to others under contract, like renting out space or a machine for use. For investors, it signals potential steady revenue and how fully an asset is used—higher leasable power that is contracted means predictable income, while unused leasable power implies room for growth or risk of lower utilization.
behind-the-meter solutions technical
"through a combination of grid-connected and behind-the-meter solutions"
firm electric capacity technical
"if an additional 40 megawatts of firm electric capacity becomes available"
forward-looking statements regulatory
"This press release includes forward-looking statements within the meaning of Section 27A"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
What did Core Scientific (CORZ) acquire in the Polaris DS transaction?
Core Scientific acquired Polaris DS LLC, which becomes a wholly owned subsidiary. The deal secures about 440 MW of gross, grid-connected power capacity under existing agreements with Oklahoma Gas & Electric, expanding Core Scientific’s power portfolio.
How much did Core Scientific (CORZ) pay for Polaris DS?
Core Scientific paid an aggregate purchase price of $444.3 million in cash for Polaris DS. A portion of this amount was placed into escrow to secure indemnification obligations specified in the merger agreement.
Is there potential additional consideration in the Core Scientific (CORZ) Polaris deal?
Yes. The purchase price may increase by an additional $40 million in cash if an extra 40 MW of firm electric capacity becomes available to Polaris before December 31, 2026, as outlined in the merger agreement.
How does the Polaris acquisition affect Core Scientific’s (CORZ) power portfolio?
Through Polaris, Core Scientific secured about 440 MW of gross power capacity and, via site acquisitions this year, has added more than 600 MW of leasable power, supporting its high-density colocation growth strategy.
What are Core Scientific’s (CORZ) expansion plans for the Muskogee campus?
Core Scientific plans to scale its Muskogee campus to approximately 1.5 GW of gross power and about 1.0 GW of leasable power, and expects to deliver the next roughly 82 MW to a customer starting in the second half of 2027.
What business focus does Core Scientific (CORZ) emphasize after the Polaris acquisition?
Core Scientific highlights its focus on high-density colocation (HDC) services, serving AI-related workloads. Most revenue comes from HDC, and it is repurposing remaining mining facilities to support this digital infrastructure business.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 13, 2026
Core Scientific, Inc.
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
838 Walker Road, Suite 21-2105 Dover, Delaware | ||||||||
| (Address of principal executive offices) | (Zip Code) | |||||||
Registrant’s telephone number, including area code: (512 ) 402-5233
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On August 14, 2026, the Company issued a press release announcing the closing of the Acquisition. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Item 7.01 of this Current Report on Form 8-K (including Exhibit 99.1) is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission made by the Company, whether made before or after today’s date, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific references in such filing.
Item 8.01 Other Events.
On August 13, 2026, Core Scientific, Inc., a Delaware corporation (the “Company”), completed the previously announced acquisition of Polaris DS LLC, a Nevada limited liability company (the “Target”), contemplated by the Agreement and Plan of Merger, dated as of May 5, 2026 (the “Merger Agreement”), by and among the Company, Polar Merger Sub, LLC, a Nevada limited liability company and wholly owned subsidiary of the Company (“Merger Sub”), the Target, Top Access Enterprises Limited, a company organized under the laws of Hong Kong and sole owner of the Target (“Seller”), and, solely for the purposes of Article XI (and Article I and Article XII to the extent relating thereto) of the Merger Agreement, Altair LLC, an Oklahoma limited liability company, pursuant to which Merger Sub merged with and into the Target (the “Acquisition”), with the Target surviving the merger as a wholly owned subsidiary of the Company. The aggregate purchase price paid by the Company for the Acquisition was approximately $444.3 million in cash, subject to certain customary post-closing purchase price adjustments set forth in the Merger Agreement. The Purchase Price is subject to increase by an additional $40 million in cash in the event that an additional 40 megawatts of firm electric capacity becomes available to the Target prior to December 31, 2026 in accordance with the terms of the Merger Agreement. A portion of the Purchase Price was withheld from the closing payment and deposited in escrow to secure the indemnification obligations of Seller and Parent Sub under the Merger Agreement.
The foregoing description of the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, which was previously filed as Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on May 6, 2026 and is incorporated by reference herein.
Item 9.01 Financial Statement and Exhibits
(d) Exhibits:
| Exhibit No. | Description | |||||||
| 99.1 | Press Release, dated August 14, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Core Scientific, Inc. | ||||||||
Dated: August 14, 2026 | ||||||||
| By: | /s/ Todd M. DuChene | |||||||
| Name: | Todd M. DuChene | |||||||
| Title: | Chief Legal Officer and Chief Administrative Officer | |||||||
Core Scientific Completes Acquisition of Polaris DS, Advancing Planned Muskogee Expansion to 1.5 GW of Gross Power MIAMI, Florida, August 14, 2026 – Core Scientific, Inc. (Nasdaq: CORZ) (“Core Scientific” or the “Company”), a leader in digital infrastructure for high-density colocation (“HDC”), today announced that it has completed its previously announced acquisition of Polaris DS LLC (“Polaris”). Through the acquisition, Core Scientific has secured the approximately 440 currently in service megawatts (“MW”) of gross, grid-connected power capacity being used by Polaris under existing electric service agreements with Oklahoma Gas & Electric. The aggregate purchase price for the acquisition was approximately $444 million in cash. “The Polaris acquisition is another example of how we are strategically expanding our power portfolio to support our long-term growth,” said Adam Sullivan, Chief Executive Officer of Core Scientific. “Through site acquisitions this year, we have added more than 600 MW of leasable power to our portfolio, while continuing to further scale our campuses.” Core Scientific reiterates its plan to scale its Muskogee campus to approximately 1.5 GW of gross power, or approximately 1.0 GW of leasable power, through a combination of grid-connected and behind-the-meter solutions. The Company is on track to deliver the next approximately 82 MW at Muskogee to its customer beginning in the second half of 2027. About Core Scientific, Inc. Core Scientific is a leader in designing, building and operating large scale, purpose-built data centers for high-density colocation (“HDC”) services. Core Scientific operates facilities for high-density colocation services serving artificial intelligence-related (“AI”) workloads and is a premier provider of digital infrastructure and services to its third- party customers. The majority of the Company's revenue is derived from high-density colocation services, with the remainder derived from earning digital assets for the Company's own account and from digital asset mining hosting services. The Company is in the process of repurposing its remaining mining facilities to support its high-density colocation services business as circumstances allow. Core Scientific’s facilities are located in Alabama (1), Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1), Oklahoma (1) and Texas (4). To learn more, visit www.corescientific.com.
-more- Special Note Regarding Forward-Looking Statements This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”). Forward- looking statements may include words such as “aim,” “estimate,” “plan,” “project,” “forecast,” “goal,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the Company’s ability to scale and grow its business, successfully complete construction of its data centers, source sufficient electrical energy, necessary long lead infrastructure components, supplies and equipment, the advantages and expected growth of the Company, the Company’s ability to source and retain talent, and our ability to source and consummate acquisitions of entities holding suitable land and power. These statements are provided for illustrative purposes only and are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management. These forward-looking statements are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions, known or unknown, that could cause actual results to vary materially from those indicated or anticipated. These risks, assumptions and uncertainties include those described in Part I. Item 1A. — “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, Quarterly Reports on Form 10-Q, and the Company’s other filings with the Securities and Exchange Commission. If one or more of these risks or uncertainties materializes, or if underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. There may be additional risks that the Company could not presently know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release and should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this press release. The Company anticipates that subsequent events and developments will cause
-end- the Company’s assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Please follow us on: https://www.linkedin.com/company/corescientific/ https://twitter.com/core_scientific https://www.youtube.com/@Core_Scientific Investors: ir@corescientific.com Media: press@corescientific.com