There is a significant possibility that astrophysical black holes with nearly extremal spins exist. Numerical simulations of such systems require suitable initial data. In this paper, we examine three methods of constructing binary-black-hole initial data, focusing on their ability to generate black holes with nearly extremal spins: (i) Bowen-York initial data, including standard puncture data (based on conformal flatness and Bowen-York extrinsic curvature), (ii) standard quasiequilibrium initial data (based on the extended-conformal-thin-sandwich equations, conformal flatness, and maximal slicing), and (iii) quasiequilibrium data based on the superposition of Kerr-Schild metrics. We find that the two conformally flat methods (i) and (ii) perform similarly, with spins up to about 0.99 obtainable at the initial time. However, in an evolution, we expect the spin to quickly relax to a significantly smaller value around 0.93 as the initial geometry relaxes. For quasiequilibrium superposed Kerr-Schild data [method (iii)], we construct initial data with initial spins as large as 0.9997. We evolve superposed Kerr-Schild data sets with spins of 0.93 and 0.97 and find that the spin drops by only a few parts in ${10}^{4}$ during the initial relaxation; therefore, we expect that superposed Kerr-Schild initial data will allow evolutions of binary black holes with relaxed spins above 0.99. Along the way to these conclusions, we also present several secondary results: the power-law coefficients with which the spin of puncture initial data approaches its maximal possible value; approximate analytic solutions for large spin puncture data; embedding diagrams for single spinning black holes in methods (i) and (ii); nonunique solutions for method (ii). All of the initial-data sets that we construct contain subextremal black holes, and when we are able to push the spin of the excision boundary surface into the superextremal regime, the excision surface is always enclosed by a second, subextremal apparent horizon. The quasilocal spin is measured by using approximate rotational Killing vectors, and the spin is also inferred from the extrema of the intrinsic scalar curvature of the apparent horizon. Both approaches are found to give consistent results, with the approximate-Killing-vector spin showing the least variation during the initial relaxation.
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