Recent Updates — CORZW
Core Scientific, Inc. completed the acquisition of Polaris DS LLC on August 13, 2026, for approximately $444.3 million in cash. The transaction secures roughly 440 megawatts of currently in-service gross power capacity utilized by Polaris under agreements with Oklahoma Gas & Electric. An additional $40 million may be paid if 40 megawatts of firm electric capacity becomes available to the Target before December 31, 2026. This acquisition supports Core Scientific's strategic expansion of its Muskogee campus, which aims to reach approximately 1.5 gigawatts of gross power and 1.0 gigawatt of leasable power through grid-connected and behind-the-meter solutions. The company plans to deliver the next 82 megawatts at Muskogee to customers starting in the second half of 2027. Core Scientific operates large-scale, purpose-built data centers for high-density colocation services, primarily serving artificial intelligence workloads.
On July 29, 2026, Core Scientific announced the appointment of Mark W. Adams to its Board of Directors, effective immediately. Mr. Adams, age 62, previously served as President and CEO of Penguin Solutions from August 2020 until January 30, 2026, and held senior leadership roles at Micron Technology, including serving as President from 2012 to 2016. He currently serves on the boards of Seagate Technology and Cadence Design Systems. The Board determined Mr. Adams is independent under Sarbanes-Oxey Act requirements and Nasdaq listing standards. His appointment expands the Board to seven directors. Core Scientific operates in the digital infrastructure industry, designing, building, and operating large-scale data centers for high-density colocation services.
Core Scientific, Inc. reported financial results for the second quarter ended June 30, 2026. Total revenue increased to $164.2 million from $115.2 million in the prior quarter, driven by a rise in colocation revenue to $136.7 million. The company reported a net loss of $1,155.3 million, primarily due to a $1,045.5 million non-cash charge from the change in fair value of warrants. Adjusted EBITDA rose to $41.1 million from $8.9 million. Billing capacity reached 395 MW, up from 225 MW, with approximately $635 million in average annualized colocation GAAP revenue. The company announced a partnership with AMD for up to 2.5 GW of leasable capacity, anchored by 15-year agreements for approximately 530 MW across five sites and more than $14 billion of potential base contracted revenue. Total leased customer power capacity increased to approximately 1.1 GW, representing more than $24 billion of potential contracted revenue. Core Scientific operates in the digital infrastructure industry, designing, building, and operating large-scale data centers for high-density colocation services supporting AI workloads.
Core Scientific, Inc. entered into lease agreements with Advanced Micro Devices, Inc. (AMD) for 377 MW of critical IT capacity at its Pecos, TX; Muskogee, OK; and Hunt County, TX sites, and with Neocloud for 152 MW at its Auburn, AL and Dalton Phase 3, GA sites. The agreements carry a 15-year term with three five-year options. AMD secured an option to lease an additional 1,925 MW through December 28, 2028, bringing total potential capacity to 2.5 gigawatts. In connection with the AMD leases, Core Scientific issued AMD a warrant to purchase up to 30 million shares at an exercise price of $23.47 per share, with 6.5 million shares vesting immediately. The company operates in the high-density data center colocation industry, providing infrastructure for artificial intelligence workloads.