1.21 Gigawatts LLC joint venture with Antpool
Company: Applied Digital
The claim, verbatim
Applied Digital and Antpool formed a limited liability company, 1.21 Gigawatts LLC, with Applied Digital owning 80% and contributing $8,000, Antpool owning 20% and contributing $2,000. The JV will develop, acquire, construct, finance, operate, maintain and own one or more Next-Gen datacenters with up to 1.5 gigawatts of capacity for hosting blockchain infrastructure.
Source (primary)
Applied Digital 424B3 filed 2022-09-27 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On January 6, 2022, we and Antpool, an affiliate of Bitmain Technologies Holding Company, entered into a Limited Liability Company Agreement of 1.21 Gigawatts, LLC ("1.21 Gigawatts"), pursuant to which we and Antpool contributed $8,000 and $2,000, respectively, and will initially own 80% and 20%, respectively, of 1.21 Gigawatts. 1.21 Gigawatts will develop, acquire, construct, finance, operate, maintain and own one or more Next-Gen datacenters with up to 1.5 gigawatts ("GW") of capacity for hosting blockchain infrastructure.”
How we checked this
Checked on September 22, 2026. The cited source supports every part of this claim.
The document states all of these ownership, contribution, and capacity terms verbatim.
Confirmed in the source:
- Applied Blockchain (APLD) and Antpool entered into a Limited Liability Company Agreement of 1.21 Gigawatts, LLC on January 6, 2022
- APLD contributed $8,000 and Antpool contributed $2,000
- APLD initially owns 80% and Antpool 20% of 1.21 Gigawatts
- The JV will develop, acquire, construct, finance, operate, maintain and own Next-Gen datacenters with up to 1.5 GW of capacity for hosting blockchain infrastructure
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487922000044/a9262022424b3finalprospect.htm) in full (350,225 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B3 filed 2022-09-27
Quote: “On January 6, 2022, we and Antpool, an affiliate of Bitmain Technologies Holding Company, entered into a Limited Liability Company Agreement of 1.21 Gigawatts, LLC ("1.21 Gigawatts"), pursuant to which we and Antpool contributed $8,000 and $2,000, respectively, and will initially own 80% and 20%, respectively, of 1.21 Gigawatts. 1.21 Gigawatts will develop, acquire, construct, finance, operate, maintain and own one or more Next-Gen datacenters with up to 1.5 gigawatts ("GW") of capacity for hosting blockchain infrastructure.”