CoreWeave lease restructuring and credit enhancements at Polaris Forge 1
Company: Applied Digital
The claim, verbatim
Restructured the 100 MW ELN-02 and 150 MW ELN-03 leases with CoreWeave through a CoreWeave SPV, with unconditional springing guarantees from CoreWeave, Inc. and a $50 million letter of credit securing the ELN-02 lease.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-10-03)Live source ↗
Quote: “the Company restructured its leases with CoreWeave through a creditworthy CoreWeave SPV subsidiary, receiving unconditional springing guarantees from CoreWeave, Inc., guaranteeing CoreWeave's SPV's obligations under the restructured leases, and CoreWeave, Inc. posting a $50 million letter of credit securing the ELN-02 lease.”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms Earnings Release
Quote: “the Company restructured its leases with CoreWeave through a creditworthy CoreWeave SPV subsidiary, receiving unconditional springing guarantees from CoreWeave, Inc., guaranteeing CoreWeave's SPV's obligations under the restructured leases, and CoreWeave, Inc. posting a $50 million letter of credit securing the ELN-02 lease.”