Total contracted critical IT load: 1.41 GW across five campuses
Company: Applied Digital
The claim, verbatim
Executed long-term leases representing 1,410 MW of contracted critical IT load across five campuses (Polaris Forge 1, 2, and 3 in North Dakota and Delta Forge 1 and 2 in Louisiana and another southern state), representing approximately $36 billion of total contracted revenue over initial 15-year base lease terms, or approximately $86 billion if all renewal options are exercised
Source (primary)
applied-digital 8-K exhibit (apldq426earningsreleaseasf.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-02)Live source ↗
Quote: “the Company had executed long-term leases representing approximately 1,410 MW of contracted critical IT load across five campuses — Polaris Forge 1, 2, and 3 in North Dakota and Delta Forge 1 and 2 in Louisiana and another southern state — representing approximately $36 billion of total contracted revenue over the initial 15-year base lease terms, or approximately $86 billion if all renewal options are exercised.”
How we checked this
Checked on September 19, 2026. The cited source supports every part of this claim.
All figures and campus details appear verbatim in the HPC Hosting Update.
Confirmed in the source:
- Executed long-term leases representing approximately 1,410 MW of contracted critical IT load across five campuses (Polaris Forge 1, 2, 3 in North Dakota and Delta Forge 1 and 2 in Louisiana and another southern state)
- Approximately $36 billion of total contracted revenue over initial 15-year base lease terms
- Approximately $86 billion if all renewal options are exercised
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000044/apldq426earningsreleaseasf.htm) in full (54,633 characters, retrieved September 2, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms applied-digital 8-K exhibit (apldq426earningsreleaseasf.htm)
Quote: “the Company had executed long-term leases representing approximately 1,410 MW of contracted critical IT load across five campuses — Polaris Forge 1, 2, and 3 in North Dakota and Delta Forge 1 and 2 in Louisiana and another southern state — representing approximately $36 billion of total contracted revenue over the initial 15-year base lease terms, or approximately $86 billion if all renewal options are exercised.”