Polaris Forge 3 hyperscaler lease - 300 MW, $7.5B contracted
Company: Applied Digital - Project: Polaris Forge 3
The claim, verbatim
Signed 15-year take-or-pay lease with same high investment-grade hyperscaler for 300 MW at Polaris Forge 3 (North Dakota) providing approximately $7.5 billion in base-term contracted revenue, with initial operations expected calendar year 2027.
Source (primary)
EX-99.1 (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗
Quote: “Signed a second 15-year take-or-pay lease with the same high investment-grade hyperscaler for 300 MW at Polaris Forge 3, which provides for approximately $7.5 billion in base-term contracted revenue, with initial operations expected to commence during calendar year 2027.”
How we checked this
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Additional evidence
confirms EX-99.1
Quote: “Signed a second 15-year take-or-pay lease with the same high investment-grade hyperscaler for 300 MW at Polaris Forge 3, which provides for approximately $7.5 billion in base-term contracted revenue, with initial operations expected to commence during calendar year 2027.”