CORZ Stock Soars To Record High On Oklahoma Data Center Plan Reaching Gigawatt Scale

• Core Scientific said it plans to scale its Muskogee campus to 1.5 gigawatts of total power capacity, positioning it among the largest U.S. data center projects.
• It stated that the acquisition of Polaris DS LLC will add 440 MW of operational capacity, with the deal expected to close in Q3 2026.
• A 70 MW facility at the site is already leased and built for NVIDIA’s GB300 platform, with operations expected in Q2 2026.

Core Scientific (CORZ) stock hit a record high on Wednesday after the company announced its plans to transform its Muskogee, Oklahoma campus into one of the largest data center buildouts in the country.

The Austin-based company, which made its name in Bitcoin (BTC) mining before pivoting hard into AI infrastructure, said the project will target 1.5 gigawatts (GW) of gross power capacity. 

CORZ’s stock jumped over 10% in afternoon trade to around $24.55, paring gains after reaching a record high of over $25. Retail sentiment around the company on Stocktwits rose to ‘extremely bullish’ from ‘bullish’ territory over the past day. Chatter rose to ‘high’ from ’normal’ levels. 

Why Is CORZ Stock Rallying Today?

Core Scientific also announced plans to acquire Polaris DS LLC, which gives access to 440 megawatts (MW) of power that’s already running. The deal is expected to close in the third quarter of 2026, funded from existing liquidity.

The company said the recent acquisition is just one part of a much bigger strategy. It added that the Muskogee campus already has one active tenant, with a 70 MW facility leased and built to support NVIDIA’s GB300 platform. The site is currently in final testing and is expected to become operational in the second quarter of 2026.

Core Scientific also said that it is already studying ways to increase its power capacity from the grid, has secured about 250 acres of land for future development, and has started building a second data center. This new facility will provide 82.5 megawatts (MW) of capacity, though it does not yet have a tenant. It is expected to be ready by late 2027.

"As our second expansion applying this approach, we are demonstrating the scalability of our model while growing a strategically important campus to support a broad range of high-density compute deployments," said CEO Adam Sullivan.

‘Behind-the-Meter Strategy’ Aims To Avoid Grid Bottlenecks

The company said a key part of the expansion plan is using a “behind-the-meter” power setup, which means generating or sourcing electricity directly on-site instead of relying fully on the public grid. It explained this approach helps avoid delays that have slowed data center growth in places like Virginia and Texas.

The Muskogee expansion reflects Core Scientific’s broader transition from Bitcoin mining toward AI infrastructure and compute services. The company still holds around 2,537 BTC on its balance sheet, valued at around $207 million at Bitcoin’s current price of $81,600. Bitcoin edged 0.6% higher in the last 24 hours, paring gains after hitting a fresh three-month high of over $82,500 earlier in the day.

While Bitcoin mining remains part of Core Scientific’s operations, the company’s capital allocation and development pipeline are increasingly focused on long-term infrastructure tied to enterprise and hyperscale customers.

Read also: HUT Stock Eyes Record High Above $100 After $10 Billion Texas AI Data Center Deal

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