Core Scientific Inc. (NASDAQ: CORZ) announced plans to expand its Muskogee, Oklahoma campus to approximately 1.5 gigawatts of gross power, or about 1.0 gigawatt of leasable power capacity.

The company entered into an agreement to acquire Polaris DS LLC, which has contracted 440 megawatts of gross power under an energy agreement with Oklahoma Gas & Electric. The acquisition, subject to regulatory approvals and closing conditions, is expected to be funded using existing liquidity and close in the third quarter of 2026.

Core Scientific has begun construction on a second 82.5 megawatt building, with initial delivery expected in the fourth quarter of 2027. The company has load studies underway to expand its grid-connected capacity, expected to be completed this year, and has developed a plan utilizing a behind-the-meter solution. Core Scientific has secured approximately 250 acres of land to support the planned expansion.

"Our multi-tiered approach in Muskogee demonstrates how we can combine acquisitions, development expertise, and innovative power solutions to unlock gigawatt-scale capacity," said Adam Sullivan, Chief Executive Officer of Core Scientific.

The company's current leased 70 megawatt building in Muskogee, designed to support the Nvidia GB300 platform, is progressing through final testing and commissioning and is on track for second quarter 2026 delivery to its customer.

Core Scientific operates facilities for high-density colocation services serving artificial intelligence workloads across multiple states including Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma and Texas.