HPC Ellendale Operational Start
Company: Applied Digital - Project: Polaris Forge 1
What the later record shows
Delivered late · happened October 31, 2025
The HPC Ellendale facility (now the first Polaris Forge 1 building) became operational in October 2025 rather than early calendar 2025. The 10-K confirms the segment began generating meaningful revenue once it was operational in fiscal 2026.
“The first lease is for the full capacity of our 100 MW data center that was completed and became operational in October 2025”
2026-01-07 · Applied Digital 10-Q filed 2026-01-08 View cached copy (2026-08-31)Live source ↗
“This business segment began generating meaningful revenues once the first HPC building within Polaris Forge 1 became operational in fiscal year 2026.”
2026-07-29 · View 10-K View cached copy (2026-09-01)Live source ↗Archive.org ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
HPC Ellendale Facility expected to become operational in early calendar year 2025 and begin generating meaningful revenues once operational
Source (primary)
Applied Digital 424B5 filed 2024-05-17 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “We anticipate that this business segment will begin generating meaningful revenues once the HPC Ellendale Facility becomes operational, which is expected sometime in the early calendar year 2025”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The prospectus supplement states both the expected early calendar 2025 operational timing and that meaningful revenues were anticipated once the facility became operational.
Confirmed in the source:
- The HPC Ellendale Facility was expected to become operational sometime in early calendar year 2025
- Applied Digital anticipated its HPC Hosting Business would begin generating meaningful revenues once the HPC Ellendale Facility became operational
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000132/preferredcapitalprospectus.htm) in full (178,920 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B5 filed 2024-05-17
Quote: “We anticipate that this business segment will begin generating meaningful revenues once the HPC Ellendale Facility becomes operational, which is expected sometime in the early calendar year 2025”
confirms Applied Digital 10-Q filed 2026-01-08
Quote: “The first lease is for the full capacity of our 100 MW data center that was completed and became operational in October 2025”
confirms View 10-K
Quote: “This business segment began generating meaningful revenues once the first HPC building within Polaris Forge 1 became operational in fiscal year 2026.”