On September 8, Core Scientific, Inc. rose 5.13% in regular trading, trading at $18.755/share, with turnover of $67.66 million. The stock continued to gain on a series of strategic developments announced in recent weeks.

On the news front, Core Scientific recently secured a $600 million committed senior secured credit facility, comprising a $100 million revolving credit facility for general corporate purposes and a $500 million letter of credit facility to provide credit support for specific project obligations. Additionally, the company completed its acquisition of Polaris DS for approximately $444 million in cash, adding roughly 440 megawatts of gross, grid-connected power capacity in Oklahoma. The company reiterated plans to scale its Muskogee campus to approximately 1.5 gigawatts of gross power, with the next 82 MW expected to be delivered to its customer beginning in H2 of next year. Separately, the company announced a partnership with AMD to provide up to 2.5 gigawatts of data center capacity. B. Riley raised its price target on Core Scientific to $42 from $33, maintaining a Buy rating.

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