High-grade hyperscaler Polaris Forge 3 lease
Company: Applied Digital - Project: Polaris Forge 3
The claim, verbatim
Signed two 15-year leases with three 5-year renewal options for 300 MW of critical IT load at Polaris Forge 3 (delivery 2H 2027 to 2H 2028)
Source (primary)
Investor Presentation (IR page (ir.applieddigital.com), ir_presentation)
View cached copy (2026-09-25)Live source ↗Archive.org ↗
Quote: “U.S. Based High Investment Grade Hyperscaler - Signed two 15-year leases with three 5-year options for 2 buildings at Polaris Forge 3, utilizing 300 MW of IT load”
How we checked this
Checked on September 27, 2026. The cited source supports every part of this claim.
The timeline, lease table and Polaris Forge 3 page establish every element of the claim.
Confirmed in the source:
- Two 15-year leases were signed at Polaris Forge 3
- The leases carry three 5-year renewal options
- Polaris Forge 3 covers 300 MW of critical IT load
- Polaris Forge 3 delivery dates are 2H 2027 / 2H 2028
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/_assets/_c3b095776b399204354d8f26dbb2553c/appliedblockchaininc/db/2905/27269/pdf/APLD_INV_June2026_Updated-compressed.pdf) in full (47,679 characters, retrieved September 25, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Investor Presentation
Quote: “U.S. Based High Investment Grade Hyperscaler - Signed two 15-year leases with three 5-year options for 2 buildings at Polaris Forge 3, utilizing 300 MW of IT load”