Amended and Restated Energy Services Agreement for 100MW
Company: Applied Digital - Project: Jamestown
The claim, verbatim
Entered into Amended and Restated Energy Services Agreement with utility for 100 megawatts with locked-in energy cost ceiling for 5-year term
Source (primary)
Applied Digital 424B4 filed 2022-04-13 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “We have also entered into an Amended and Restated Energy Services Agreement with respect to 100 megawatts to be used by our co-hosting customers. We have also entered into an agreement with a utility... through our Amended and Restated Electric Service Agreement with a utility in the upper Midwest, we have locked in a ceiling for our energy costs.”
How we checked this
Checked on October 11, 2026. The cited source supports part of this claim, but not all of it.
The prospectus confirms the 100MW utility agreement, the locked-in energy cost ceiling, and 5 years of secured power. It does not explicitly tie the cost ceiling to a 5-year term.
Confirmed in the source:
- Applied Blockchain entered into an Amended and Restated Energy Services Agreement covering 100 megawatts for its co-hosting customers
- The agreement is with a utility in the upper Midwest
- Through the agreement, the company locked in a ceiling for its energy costs
- For the first 100MW buildout, the company secured 5 years of power from a utility
We could not confirm this from the cited source:
- The prospectus does not explicitly state that the energy cost ceiling applies for a 5-year term
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/1144879/000110465922045562/tm2132377-25_424b4.htm) in full (528,650 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B4 filed 2022-04-13
Quote: “We have also entered into an Amended and Restated Energy Services Agreement with respect to 100 megawatts to be used by our co-hosting customers. We have also entered into an agreement with a utility... through our Amended and Restated Electric Service Agreement with a utility in the upper Midwest, we have locked in a ceiling for our energy costs.”
confirms Applied Digital 424B3 filed 2022-04-13
Quote: “We have also entered into an Amended and Restated Energy Services Agreement with respect to 100 megawatts to be used by our co-hosting customers.”