HPC hosting revenue FY2025
Company: Applied Digital
The claim, verbatim
Applied Digital had $0 in HPC hosting revenue in the year to 31 May 2025
Source (primary)
Hut 8 vs Applied Digital and Why 96 Percent of Hut 8's AI Revenue Is Internal - Phemex (-, news_article)
View cached copy (2026-09-23)Live source ↗
Quote: “Applied Digital HPC revenue was $0 in the year to 31 May 2025”
How we checked this
Checked on September 26, 2026. The cited source supports every part of this claim.
The article states that Applied Digital's HPC revenue was $0 in the year to 31 May 2025, before rising to $385.304 million in the year to 31 May 2026.
Confirmed in the source:
- Applied Digital's HPC hosting revenue was $0 in the year to 31 May 2025
What we did: Read our cached copy of the publisher (https://phemex.com/academy/hut-8-vs-applied-digital-ai-revenue) in full (15,917 characters, retrieved September 23, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Hut 8 vs Applied Digital and Why 96 Percent of Hut 8's AI Revenue Is Internal - Phemex
Quote: “Applied Digital HPC revenue was $0 in the year to 31 May 2025”