High-grade hyperscaler Delta Forge 2 lease
Company: Applied Digital - Project: Delta Forge 2
The claim, verbatim
Signed one 15-year lease with three 5-year renewal options for 210 MW of critical IT load at Delta Forge 2 (delivery 1H 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 one 15-year lease with three 5-year options for 1 building at Delta Forge 2, utilizing 210 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 Delta Forge 2 page state the lease, options, 210 MW capacity and 1H 2028 delivery.
Confirmed in the source:
- One 15-year lease was signed at Delta Forge 2
- The lease carries three 5-year renewal options
- Delta Forge 2 covers 210 MW of critical IT load
- Delta Forge 2 delivery is expected in 1H 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 one 15-year lease with three 5-year options for 1 building at Delta Forge 2, utilizing 210 MW of IT load”