Marathon services agreement for Garden City cancelled
Company: Applied Digital - Project: Garden City
The claim, verbatim
At the closing of the sale, the company entered into an agreement with Marathon to cancel the services agreement supported by the Garden City property and to refund amounts above the deferred revenue that Marathon assumed.
Source (primary)
applied-digital 8-K exhibit (gdnsaleproformas.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-11-08)Live source ↗
Quote: “In conjunction with the Transaction Closing, the Company has entered into an agreement with Marathon to cancel its services agreement that was supported by the Property and refund any amounts in excess of the deferred revenue amount assumed by Marathon”
How we checked this
Checked on November 10, 2026. The cited source supports every part of this claim.
Footnote I of the pro forma balance sheet states that at closing the company agreed with Marathon to cancel the services agreement supported by the property and refund amounts above the deferred revenue Marathon assumed.
Confirmed in the source:
- In conjunction with the closing of the Garden City facility sale, Applied Digital entered into an agreement with Marathon to cancel the services agreement supported by the property
- The agreement provides for a refund of amounts in excess of the deferred revenue amount assumed by Marathon
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000063/gdnsaleproformas.htm) in full (14,459 characters, retrieved November 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (gdnsaleproformas.htm)
Quote: “In conjunction with the Transaction Closing, the Company has entered into an agreement with Marathon to cancel its services agreement that was supported by the Property and refund any amounts in excess of the deferred revenue amount assumed by Marathon”