Core Scientific Completes Acquisition of Polaris DS for $444.3 Million
Core Scientific has completed the acquisition of Polaris DS, securing the necessary power assets for the expansion of its data center in Muskogee, Oklahoma. The cash consideration is approximately $444.3 million, with an additional potential payment of up to $40 million contingent upon the availability of an extra 40 megawatts of power. Following the acquisition, Polaris DS has become a wholly-owned subsidiary of Core Scientific, with related power resources totaling approximately 440 MW. This transaction aligns with Core Scientific's shift from Bitcoin mining to AI infrastructure leasing and high-density colocation. Core Scientific signed the acquisition agreement on May 5, and as of the end of June, the 10-Q document indicated that $120 million was deposited in an escrow account. This deal signifies the repositioning of power assets for mining companies, and Core Scientific reported an increase in total leased customer power capacity to approximately 1.1 gigawatts during its second-quarter earnings announcement.
-- Price
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