Hyperscaler lease at Delta Forge 2
Company: Applied Digital - Project: Delta Forge 2
The claim, verbatim
Signed one 15-year lease with three 5-year options with a U.S.-based high investment grade hyperscaler for 1 building at Delta Forge 2, 210 MW of IT load; base-term value ~$5.2B.
Source (primary)
Investor Presentation (IR page (ir.applieddigital.com), ir_presentation)
View cached copy (2026-10-06)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 October 8, 2026. The cited source supports every part of this claim.
The timeline describes the single Delta Forge 2 lease. The lease table and the DF2 page give a base-term value of about $5.2B.
Confirmed in the source:
- One 15-year lease was signed with a U.S.-based high investment grade hyperscaler
- The lease carries three 5-year options
- The lease covers 1 building at Delta Forge 2
- The lease covers 210 MW of IT load
- Base-term value is about $5.2B
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/_assets/_2ca3a6fc58e47f662a7c51ed55b80806/appliedblockchaininc/db/2905/27269/pdf/APLD_INV_June2026_Updated-compressed.pdf) in full (47,679 characters, retrieved October 6, 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”