Delta Forge 2 contracted capacity and revenue
Company: Applied Digital - Project: Delta Forge 2
The claim, verbatim
Delta Forge 2 is 210 MW critical IT load campus contracted under approximately 15-year lease with three five-year renewal options with high investment-grade hyperscaler, representing approximately $5.2 billion of contracted revenue over base term
Source (primary)
Applied Digital 10-K filed 2026-07-29 (SEC EDGAR, sec_filing)
View cached copy (2026-08-30)Live source ↗
Quote: “The full 210 MW of critical IT load is contracted under an approximately 15-year lease (with three five-year renewal options) with a high investment-grade hyperscaler, representing approximately $5.2 billion of contracted revenue over the base term”
How we checked this
Checked on September 13, 2026. The cited source supports every part of this claim.
The 10-K's Delta Forge 2 description states each of these terms.
Confirmed in the source:
- Delta Forge 2 is a 210 MW critical IT load campus
- The full 210 MW is contracted under an approximately 15-year lease
- The lease includes three five-year renewal options
- The counterparty is a high investment-grade hyperscaler
- The lease represents approximately $5.2 billion of contracted revenue over the base term
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm) in full (594,188 characters, retrieved August 30, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 10-K filed 2026-07-29
Quote: “The full 210 MW of critical IT load is contracted under an approximately 15-year lease (with three five-year renewal options) with a high investment-grade hyperscaler, representing approximately $5.2 billion of contracted revenue over the base term”