Core Scientific jumps 7% in morning markets as data center firm announces 440 MW expansion at Oklahoma site

Blockspace Staff

Wed, May 6, 2026 astatine 7:38 AM CDT 2 min read

Core Scientific (NASDAQ: CORZ) said Wednesday it plans to grow its Muskogee, Oklahoma field to 1.5 gigawatts of gross power, oregon astir 1.0 GW of leasable capacity. The enlargement would marque it the bitcoin miner’s 2nd tract astatine that standard arsenic the institution expands AI/HPC infrastructure.

Shares of CORZ roseate 7% successful pre-trading hours, up to $23.79 per Yahoo Finance.

Core Scientific archetypal announced the Muskogee field successful November 2024, erstwhile Core Scientific, CoreWeave, and Port Muskogee broke crushed connected a 100 MW information halfway designed to big NVIDIA GPUs for an undisclosed client. That archetypal signifier included astir 70 MW of captious IT load, with the remaining 30 MW supporting ancillary systems. The installation was portion of a broader 500 MW of captious IT load that CoreWeave contracted from Core Scientific, with a imaginable worth of $8.7 cardinal implicit 12 years positive 2 five-year options.

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At the 2024 groundbreaking, CEO Adam Sullivan said the task highlighted Muskogee’s relation arsenic a halfway of “next-generation, AI computing.” Port Muskogee projected the installation would bring much than $4 cardinal successful superior investment, $182 cardinal successful section nett benefits, and 150 jobs with mean salaries exceeding $65,000 implicit the beingness of the project.

Core Scientific announced connected April 27 that it planned to standard its Pecos, Texas field to 1.5 GW of gross powerfulness arsenic well. That tract was already being converted from bitcoin mining toward AI infrastructure, with the archetypal information hallway reaching a operation milestone. The institution said it had secured an further 300 MW of gross powerfulness nether declaration with its inferior supplier and much than 200 acres of onshore astatine the Texas site.

The Muskogee program besides includes converting existing bitcoin mining capacity, adding contracted inferior power, and securing onshore for aboriginal buildout.

To money the enlargement crossed aggregate states, the institution announced plans successful April to rise $3.3 cardinal done elder secured notes owed 2031. It besides secured a $1 cardinal indebtedness from Morgan Stanley successful March, which it apt paid disconnected utilizing the secured elder notes.

Oklahoma lawmakers person been advancing House Bill 2992, which would necessitate utilities to guarantee residential and commercialized customers are protected from complaint increases tied to large-load information halfway customers.