Core Scientific, Inc./tx

3. ASSET ACQUISITIONS

Polaris DS LLC Acquisition

On August 13, 2026, the Company completed its acquisition of Polaris DS LLC, which owns an approximately 40-acre site adjacent to the Company's existing Muskogee, Oklahoma data center operations. The acquired assets include land and land improvements, an electrical substation and related infrastructure, and development rights associated with electric service agreements providing for up to 440 MW of gross utility power capacity. The aggregate purchase price was approximately $444.3 million in cash, including approximately $21.4 million of net closing purchase price adjustments. The purchase price is subject to an additional $40 million cash payment in the event that an additional 40 MW of firm electric capacity becomes available to Polaris DS LLC prior to December 31, 2026. This condition had not been satisfied as of September 30, 2026, and no amount was recognized for this contingent consideration.

The acquisition was accounted for as an asset acquisition in accordance with ASC 805-50. The total cost of the acquisition including direct transaction costs, net of closing price adjustments, was approximately $422.9 million. The following table presents the allocation of the acquisition cost to the assets acquired and liabilities assumed (in thousands):

The land improvement and the electrical substation and infrastructure are depreciable assets with estimated useful lives of approximately 20 years and 15 years, respectively. Depreciation expense recognized from the acquisition date through September 30, 2026 was immaterial. The development rights are a finite-lived intangible asset with a weighted-average amortization period of approximately 30 years and no significant residual value. Amortization will begin when the related data center is placed in service, and no amortization expense was recognized during the periods presented.

Hunt County Acquisition

On May 5, 2026, the Company completed an acquisition of land in Hunt County, Texas for an aggregate purchase price of approximately $232.5 million, and entered into a related electric service agreement, which is expected to support approximately 430 MW of gross utility power capacity. The Company intends to develop this land as a future data center site.

The acquisition was accounted for as an asset acquisition in accordance with ASC 805-50. The total consideration was allocated on a relative fair value basis, with $4.7 million allocated to land and $227.8 million allocated to development rights. The development rights are a finite-lived intangible asset with a weighted-average amortization period of approximately 30 years and no significant residual value. Amortization will begin when the related data center is placed in service, and no amortization expense was recognized during the periods presented.

As of September 30, 2026, the substantial majority of the “Intangibles, net” balance represents development rights recognized in connection with the Hunt County and Polaris DS LLC acquisitions described above, with the remainder representing an immaterial amount of other intangible assets. As of December 31, 2025, “Intangibles, net” consisted entirely of other intangible assets.