1.21 Gigawatts LLC formation
Company: Applied Digital
What the later record shows
Not a promise: a reported event · happened January 6, 2022
The claim, made in August 2022, reports an LLC agreement already signed on January 6, 2022. Later filings confirm it.
“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”
2023-05-15 · Applied Digital 424B3 filed 2023-05-16 View cached copy (2026-09-13)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Limited Liability Company agreement with Antpool (affiliate of Bitmain) where Company owns 80% and Antpool owns 20%, with capital contributions of $8,000 and $2,000 respectively
Source (primary)
Applied Digital 10-K filed 2022-08-29 (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.”
How we checked this
Checked on October 11, 2026. The cited source supports part of this claim, but not all of it.
The filing confirms the 1.21 Gigawatts agreement with Antpool and the 80/20 ownership split. The dollar amounts in the claim appear as written in one passage, but elsewhere the filing states the contributions were $8 million and $2 million, so the literal $8,000/$2,000 figures are not reliably established.
Confirmed in the source:
- The company entered into a Limited Liability Company Agreement of 1.21 Gigawatts, LLC with Antpool
- Antpool is an affiliate of Bitmain
- The company would initially own 80% and Antpool 20% of 1.21 Gigawatts
We could not confirm this from the cited source:
- The capital contributions were literally $8,000 and $2,000; the filing's MD&A and notes state the contributions were $8 million and $2 million, so the business section's "$8,000 and $2,000" figures appear to be in thousands
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000162828022023816/apld-20220531.htm) in full (312,378 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 10-K filed 2022-08-29
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.”