1.21 Gigawatts joint venture with Antpool
Company: Applied Digital
The claim, verbatim
Formed 1.21 Gigawatts LLC with Antpool contributing $8,000 and $2,000 respectively with 80% and 20% ownership to develop up to 1.5 GW datacenters for blockchain infrastructure
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. 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 business section states the JV terms including the $8,000/$2,000 contributions, 80/20 ownership, and up to 1.5 GW capacity.
Confirmed in the source:
- On January 6, 2022 the company and Antpool formed 1.21 Gigawatts, LLC
- Antpool is an affiliate of Bitmain Technologies Holding Company
- The company and Antpool contributed $8,000 and $2,000 respectively and own 80% and 20% respectively
- 1.21 Gigawatts will develop 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/1144879/000162828022023816/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. 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.”