CoreWeave Polaris Forge 1 lease agreement
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Three 15-year leases with CoreWeave for approximately $11 billion in aggregate rental revenue over the lease term for 400 megawatts at Polaris Forge 1 in Ellendale, North Dakota, with options for three additional five-year renewals
Source (primary)
Applied Digital DEF 14A filed 2025-09-22 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “securing three 15-year leases with CoreWeave for approximately $11 billion in anticipated aggregate rental revenue over the term for 400 megawatts at our Polaris Forge 1 campus in Ellendale, North Dakota, with options for three additional five-year renewals”
How we checked this
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Additional evidence
confirms Applied Digital DEF 14A filed 2025-09-22
Quote: “securing three 15-year leases with CoreWeave for approximately $11 billion in anticipated aggregate rental revenue over the term for 400 megawatts at our Polaris Forge 1 campus in Ellendale, North Dakota, with options for three additional five-year renewals”