1.21 Gigawatts LLC joint venture with Antpool
Company: Applied Digital
What the later record shows
Not a promise: a reported event · happened January 6, 2022
The claim reports that the 1.21 Gigawatts LLC agreement with Antpool was signed on January 6, 2022, before the statement was made. A 2024 filing confirms the 80/20 joint venture exists.
“entered into a Limited Liability Company Agreement of 1.21 Gigawatts, LLC (“1.21 Gigawatts”) pursuant to which we and Antpool own 80% and 20%, respectively, of 1.21 Gigawatts.”
2024-07-18 · Applied Digital 8-K filed 2024-07-19 View cached copy (2026-08-31)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
Formed 1.21 Gigawatts LLC with Antpool on January 6, 2022; contributed $8,000 for 80% ownership, Antpool contributed $2,000 for 20% ownership
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 January 6, 2022 joint venture with Antpool and the 80/20 split. It elsewhere states the contributions were $8 million and $2 million, so the literal $8,000 and $2,000 amounts in the claim are not reliably established.
Confirmed in the source:
- The company formed 1.21 Gigawatts LLC with Antpool on January 6, 2022
- The company would initially own 80% and Antpool 20% of 1.21 Gigawatts
We could not confirm this from the cited source:
- The contributions were literally $8,000 (company) and $2,000 (Antpool); 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.”