Five initial hosting customers
Company: Applied Digital - Project: Garden City
The claim, verbatim
Contracts with JointHash Holding Limited (GMR subsidiary), Spring Mud LLC (GMR subsidiary), Bitmain Technologies Limited, F2Pool Mining Inc., and Hashing LLC (GMR subsidiary) representing 100% of first facility capacity and 85 MW at second facility
Source (primary)
Applied Digital 10-K filed 2022-08-29 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “We have entered into contracts with JointHash Holding Limited (a subsidiary of GMR), Spring Mud, LLC (a subsidiary of GMR) Bitmain Technologies Limited, F2Pool Mining, Inc. and Hashing LLC (a subsidiary of GMR) to utilize our first co-hosting facility. Together these customers will account for 100% of our co-hosting facility revenue until our second facility is constructed and operational. These customers have agreed to use an additional 85 MW of power at our second facility, once it is constructed and operational.”
How we checked this
Checked on September 22, 2026. The cited source supports every part of this claim.
The document names all five customers with their GMR subsidiary designations, the 100% first-facility revenue share, and the 85 MW commitment at the second facility.
Confirmed in the source:
- Contracts exist with JointHash Holding Limited (GMR subsidiary), Spring Mud LLC (GMR subsidiary), Bitmain Technologies Limited, F2Pool Mining Inc., and Hashing LLC (GMR subsidiary) for the first facility
- These five customers account for 100% of first facility revenue
- These customers have agreed to use an additional 85 MW at the second facility
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: “We have entered into contracts with JointHash Holding Limited (a subsidiary of GMR), Spring Mud, LLC (a subsidiary of GMR) Bitmain Technologies Limited, F2Pool Mining, Inc. and Hashing LLC (a subsidiary of GMR) to utilize our first co-hosting facility. Together these customers will account for 100% of our co-hosting facility revenue until our second facility is constructed and operational. These customers have agreed to use an additional 85 MW of power at our second facility, once it is constructed and operational.”