Lease agreement with U.S.-based hyperscaler at Polaris Forge 2
Company: Applied Digital
The claim, verbatim
Applied Digital has entered into a lease agreement with a U.S.-based investment-grade hyperscaler for 200 MW at Polaris Forge 2 Campus near Harwood, North Dakota, representing approximately $5 billion in total contracted revenue over an estimated 15-year lease term.
Source (primary)
applied-digital 8-K exhibit (ad-harwood_prxfinal102225.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-27)Live source ↗
Quote: “Applied Digital (NASDAQ: APLD) announced today that it has entered into a lease agreement with a U.S. Based Investment Grade Hyperscaler at its state-of-the-art, purpose-built Polaris Forge 2 Campus currently under construction near Harwood, North Dakota. This lease represents approximately $5 billion in total contracted revenue over an estimated 15-year lease term and covers 200 megawatts (MW) of critical IT load”
How we checked this
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Additional evidence
confirms applied-digital 8-K exhibit (ad-harwood_prxfinal102225.htm)
Quote: “Applied Digital (NASDAQ: APLD) announced today that it has entered into a lease agreement with a U.S. Based Investment Grade Hyperscaler at its state-of-the-art, purpose-built Polaris Forge 2 Campus currently under construction near Harwood, North Dakota. This lease represents approximately $5 billion in total contracted revenue over an estimated 15-year lease term and covers 200 megawatts (MW) of critical IT load”