Polaris Forge 1

Kind: campus
Location: 9685 87th Ave SE, Ellendale, ND
County: Dickey County
State/region: ND
Country: US
Status: announced

Capacity

What has actually been delivered, against what has been promised. Each figure links to the statement it came from.

Stage	Capacity	As of	Source
Energized power flowing today	175 MW	2026-09-01	Polaris Forge 1 total live capacity 175 MW
Contracted a customer is on the hook	400 MW IT load	2026-09-01	CoreWeave Polaris Forge 1 lease
Under construction	250 MW	2025-07-29	Polaris Forge 1 under construction capacity
Permitted	--
Interconnect approved utility has agreed to deliver	--
Interconnect requested in a queue, nothing approved	--
Announced a press-release figure	1,000 MW IT load	2026-09-01	Polaris Forge 1 designed to scale to 1 gigawatt total capacity

Who has claimed this site

Capacity commitments in the order they were announced. A commitment that ended shows why.

2024-08-28

Undisclosed counterparty (one or more) - tenant · 400 MW source

2025-05-28

CoreWeave - anchor tenant · 400 MW · 15-year term source

2026-03-31

CoreWeave - guarantor source

2026-09-01

Marathon Digital Holdings - offtaker source

Claims about this project

2024-05-16 - delayed

HPC Ellendale Operational Start. Promised by 2025-01-01.

2024-05-16 - stated

HPC Ellendale Facility Construction 100.0 MW.

2024-05-30 - delayed

HPC Ellendale Facility under construction 100.0 MW. Promised by 2025-01-01.

2024-06-06 - stated

ELN-02 Project hyperscale lease as condition for final $40M tranche 40.0 USD.

2024-06-16 - stated

HPC Ellendale Datacenter Construction and Operational Timeline 100.0 MW.

2024-08-28 - delayed

Extended LOI exclusivity period for Ellendale campus. Promised by 2024-07-26.

2024-08-28 - stated

Next two buildings with 300 MW capacity under design 300.0 MW.

2024-08-28 - stated

400 MW LOI with US-based hyperscaler 400.0 MW.

2024-08-29 - stated

Financing discussions for HPC Ellendale Facility.

2024-08-29 - stated

Ellendale HPC facility under construction 100.0 MW.

2024-08-29 - stated

HPC Ellendale Facility expected to become operational.

2024-08-29 - stated

Letter of intent with US-based hyperscaler for HPC capacity lease 400.0 MW.

2024-08-29 - stated

Advanced financing discussions for HPC Ellendale facility.

2024-08-29 - stated

100 MW HPC data center facility in Ellendale, North Dakota 100.0 MW.

2024-08-29 - stated

Letter of intent with US-based hyperscaler for capacity lease 400.0 MW.

2024-08-29 - stated

Ellendale HPC data center groundbreaking 100.0 MW.

2024-08-29 - stated

HPC Ellendale facility under construction 100.0 MW.

2024-08-29 - stated

Hyperscaler lease for 400 MW HPC capacity 400.0 MW.

2024-08-29 - stated

Financing discussions for HPC Ellendale.

2024-08-29 - stated

Hyperscaler capacity lease commitment 400.0 MW.

2024-08-29 - stated

HPC Ellendale Facility operational timing.

2024-09-10 - stated

100 MW HPC facility Ellendale construction commenced 100.0 MW.

2024-09-10 - stated

100 MW HPC facility in Ellendale, ND with ground broken 100.0 MW.

2024-09-10 - delayed

Hyperscaler exclusivity extension for HPC Ellendale Facility. Promised by 2024-07-26.

2024-09-10 - stated

Extended hyperscaler exclusivity HPC Ellendale.

2024-09-10 - stated

400 MW capacity lease with hyperscaler 400.0 MW.

2024-09-10 - stated

Letter of intent with hyperscaler for 400 MW capacity lease 400.0 MW.

2024-10-03 - stated

HPC Ellendale Facility capacity 100.0 MW.

2024-10-03 - delayed

HPC Ellendale Facility operational timeline. Promised by 2025-12-31.

2024-10-17 - delayed

Ellendale HPC facility expected operational date 100.0 MW. Promised by 2025-12-31.

2024-11-14 - stated

100 MW Ellendale building construction 100.0 MW.

2024-11-21 - stated

HPC Ellendale expected operational in 2025.

2024-11-21 - stated

HPC Ellendale 100 MW facility groundbreaking 100.0 MW.

2024-12-01 - delayed

ELN-02 Project completion deadline. Promised by 2025-12-06.

2025-01-07 - stated

Entry into lease with hyperscaler for 100MW Building A. Promised by 2027-12-31.

2025-01-07 - stated

100MW data center Building B at Ellendale, North Dakota 100.0 MW.

2025-01-07 - stated

Real estate project financing for Building A construction. Promised by 2027-12-31.

2025-01-07 - stated

Entry into lease with hyperscaler for 100MW Building B. Promised by 2027-12-31.

2025-01-07 - stated

100MW data center Building A at Ellendale, North Dakota 100.0 MW.

2025-07-29 - stated

Polaris Forge 1 total planned capacity 400.0 MW.

2025-07-29 - stated

Polaris Forge 1 second building capacity under construction 150.0 MW.

2025-07-29 - stated

Polaris Forge 1 first building capacity under construction 100.0 MW.

2025-07-29 - stated

Polaris Forge 1 first building operational date.

2025-07-29 - stated

Polaris Forge 1 lease agreements execution 250.0 MW.

2025-07-29 - stated

Polaris Forge 1 total planned capacity 400.0 MW.

2025-07-29 - stated

Polaris Forge 1 third building capacity 150.0 MW.

2025-07-29 - stated

Polaris Forge 1 second building capacity 150.0 MW.

2025-07-29 - stated

Polaris Forge 1 revenue generation timing.

2025-07-29 - stated

Polaris Forge 1 lease agreements 250.0 MW.

2025-07-29 - stated

Polaris Forge 1 under construction capacity 250.0 MW.

2025-07-29 - stated

Polaris Forge 1 first building capacity 100.0 MW.

2025-07-29 - stated

Polaris Forge 1 campus total capacity 400.0 MW.

2025-07-29 - delayed

Polaris Forge 1 operational start. Promised by 2025-12-31.

2025-07-29 - stated

Polaris Forge 1 leased capacity 250.0 MW.

2025-07-29 - delayed

Polaris Forge 1 first building operational date. Promised by 2025-12-31.

2025-07-29 - stated

Polaris Forge 1 first two buildings leased capacity 250.0 MW.

2025-07-29 - stated

Polaris Forge 1 third building planned capacity 150.0 MW.

2025-08-14 - stated

Polaris Forge I data center construction.

2025-08-28 - stated

Building 4 service-ready date.

2025-08-28 - stated

Building 4 Lease contract value 4000000000.0 USD.

2025-08-28 - stated

Polaris Forge 1 total capacity 400.0 MW.

2025-08-28 - stated

CoreWeave total leased capacity at Polaris Forge 1 400.0 MW.

2025-08-28 - stated

Building 4 capacity 150.0 MW.

2025-09-02 - stated

Building 4 Datacenter Lease with CoreWeave.

2025-09-11 - stated

CoreWeave 15-year lease agreement for Polaris Forge 1 11000000000.0 USD.

2025-09-11 - stated

Polaris Forge 1 design capacity 1.0 GW.

2025-09-11 - delayed

Polaris Forge 1 phased rollout. Promised by 2025-12-31.

2025-09-21 - delayed

Polaris Forge 1 first phase 100 MW operational 100.0 MW. Promised by 2025-12-31.

2025-09-21 - stated

Polaris Forge 1 additional 150 MW expansion 150.0 MW. Promised by 2027-12-31.

2025-09-21 - stated

CoreWeave Polaris Forge 1 lease agreement 11000000000.0 USD.

2025-10-08 - stated

Conditional Macquarie investment obligation in Polaris Forge 1 250.0 million USD. Promised by 2028-04-06.

2025-10-08 - stated

Polaris Forge 1 data center capacity 100.0 MW.

2025-10-08 - stated

Total potential Macquarie investment in Polaris Forge 1 450.0 million USD.

2025-10-08 - stated

Macquarie conditional investment right for Polaris Forge 1 additional phases 337.5 million USD.

2025-10-08 - delayed

Macquarie Asset Management investment partnership closed. Promised by 2025-10-06.

2025-10-08 - stated

Applied Digital equity contributions to Polaris Forge 1 990.0 million USD.

2025-10-08 - stated

Warrants issued to Macquarie affiliates 2400000.0 shares.

2025-10-08 - stated

Ellendale, North Dakota datacenter campus capacity 400.0 MW.

2025-10-08 - delayed

Initial Macquarie investment closed 112.5 million USD. Promised by 2025-10-06.

2025-10-09 - stated

CoreWeave lease - 150 MW additional at Polaris Forge 1 150.0 MW.

2025-10-09 - delayed

Polaris Forge 1 - 100 MW building completion 100.0 MW. Promised by 2025-12-31.

2025-10-09 - delayed

Polaris Forge 1 - 150 MW building construction initiated 150.0 MW. Promised by 2026-06-30.

2025-10-09 - stated

CoreWeave lease - $11 billion total contracted revenue 11000.0 USD millions.

2025-10-09 - stated

Macquarie preferred equity - $112.5 million drawn from $5 billion facility 112.5 USD millions.

2025-10-09 - delayed

HPC Hosting - 100 MW facility operational Q4 2025 100.0 MW. Promised by 2025-12-31.

2025-10-09 - delayed

HPC Hosting - 150 MW facility scheduled mid-2026 150.0 MW. Promised by 2026-06-30.

2025-10-09 - stated

HPC Hosting - 150 MW facility planned 2027 150.0 MW. Promised by 2027-12-31.

2025-10-09 - stated

Polaris Forge 1 - expansion beyond 1 GW potential 2028-2030 1.0 GW. Promised by 2028-01-01.

2025-11-19 - stated

Data center ELN-03 at Ellendale campus 150.0 MW.

2025-11-19 - stated

Data center ELN-02 at Ellendale campus 100.0 MW.

2025-12-04 - stated

Polaris Forge 1 ELN-03 Under Construction 150.0 MW.

2025-12-04 - stated

Polaris Forge 1 ELN-02 Operations 100.0 MW.

2025-12-04 - stated

CoreWeave Lease Polaris Forge 1 ELN-04 and Total Contract 400.0 MW.

2025-12-04 - stated

CoreWeave Warrant Issuance 8393611.0 shares.

2025-12-04 - stated

Macquarie Warrant Issuance 2.4 shares.

2025-12-04 - stated

CoreWeave Lease Polaris Forge 1 ELN-02 and ELN-03 250.0 MW.

2025-12-04 - stated

Polaris Forge 1 ELN-04 Construction Timeline 150.0 MW.

2026-01-07 - stated

Ellendale data center fully leased 400.0 MW.

2026-02-08 - stated

Polaris Forge 1 data center capacity 400.0 MW.

2026-03-12 - stated

Polaris Forge 1 data centers.

2026-03-31 - stated

ELN-02 SPV Lease execution.

2026-03-31 - delayed

ELN-02 Letter of Credit commitment 50000000.0 USD. Promised by 2026-04-29.

2026-03-31 - stated

ELN-03 Lease Assignment.

2026-03-31 - stated

ELN-03 CoreWeave Parent Guaranty.

2026-03-31 - stated

CoreWeave tenancy at Polaris Forge 1.

2026-03-31 - stated

ELN-02 data center capacity 100.0 MW.

2026-03-31 - stated

ELN-02 CoreWeave Parent Guaranty.

2026-03-31 - stated

ELN-02 Parent Lease Amendment.

2026-03-31 - stated

ELN-03 data center capacity 150.0 MW.

2026-06-08 - stated

150 MW AI Factory construction at Polaris Forge 1, Ellendale, North Dakota (ELN-04) 150.0 MW.

2026-06-08 - stated

Memorandum of Understanding with CoreWeave for ELN-04 lease assignment.

2026-06-08 - stated

150 MW data center construction at Polaris Forge 1 150.0 MW.

2026-06-16 - stated

150 MW critical IT load (ELN-04) at Polaris Forge 1, Ellendale, North Dakota 150.0 MW.

2026-07-28 - stated

CoreWeave leases ELN-02 and ELN-03 at Polaris Forge 1 250.0 MW.

2026-07-28 - stated

CoreWeave Building 4 Lease at Polaris Forge 1 150.0 MW.

2026-07-28 - stated

Polaris Forge 1 - Third data center under construction 150.0 MW. Promised by 2027-12-31.

2026-07-28 - stated

Polaris Forge 1 - Second data center partially operational 150.0 MW.

2026-07-28 - delayed

Polaris Forge 1 - First HPC data center operational 100.0 MW. Promised by 2025-10-31.

2026-07-28 - stated

CoreWeave leases at Polaris Forge 1 400.0 MW.

2026-07-28 - stated

Polaris Forge 1 third data center delivery timeline 150.0 MW. Promised by 2027-12-31.

2026-07-28 - stated

Polaris Forge 1 second data center 150.0 MW.

2026-07-28 - stated

Polaris Forge 1 first data center operational capacity 100.0 MW.

2026-07-28 - stated

Polaris Forge 1 third facility ready-for-service 150.0 MW. Promised by 2027-12-31.

2026-07-28 - stated

CoreWeave leases at Polaris Forge 1 400.0 MW.

2026-07-28 - delayed

Polaris Forge 1 first facility operational 100.0 MW. Promised by 2025-10-01.

2026-08-13 - stated

CoreWeave 400 MW Polaris Forge 1 contract 11000000000.0 USD.

2026-08-18 - stated

Polaris Forge campus in full operation.

2026-08-22 - stated

$300 million bridge facility for Polaris Forge 1 300.0 million USD.

2026-08-22 - delayed

Polaris Forge 1 Building 2 capacity addition 75.0 MW. Promised by 2026-06-30.

2026-08-22 - stated

Polaris Forge 1 Building 2 construction duration.

2026-08-22 - stated

Polaris Forge 1 Building 1 construction duration.

2026-08-22 - stated

Phase 1 of second building placed into service at Polaris Forge 1 75.0 MW.

2026-08-22 - stated

$1.59 billion senior secured notes for Polaris Forge 1 building 4 1.59 billion USD.

2026-08-22 - stated

Fourth building construction started at Polaris Forge 1.

2026-08-22 - stated

Polaris Forge 1 campus at 175 MW live capacity 175.0 MW.

2026-08-22 - stated

Polaris Forge 1 total live capacity.

2026-08-24 - stated

Polaris Forge 1 operational capacity 175.0 MW.

2026-08-24 - stated

Polaris Forge 1 operational capacity.

2026-09-01 - stated

Ellendale HPC data center 400 MW total capacity commitment 400.0 MW.

2026-09-01 - stated

Ellendale HPC data center main substation transformer energized.

2026-09-01 - stated

Macquarie investment to recover $300 million of Applied Digital equity in Ellendale 300000000.0 USD.

2026-09-01 - stated

Two additional HPC buildings in design phase adding 300 MW at Ellendale 300.0 MW.

2026-09-01 - stated

Ellendale customer capacity agreement.

2026-09-01 - delayed

Ellendale first 100 MW HPC facility 100.0 MW. Promised by 2025-12-31.

2026-09-01 - stated

Polaris Forge 1 first building expected operational.

2026-09-01 - delayed

Third facility groundbreaking Q3 2022. Promised by 2022-09-30.

2026-09-01 - stated

CoreWeave Lease Enhancement and Credit Support 50.0 million USD.

2026-09-01 - stated

CoreWeave MOU for Polaris Forge 1 Building 4 (150 MW) lease assignment 150.0 MW.

2026-09-01 - stated

Polaris Forge 1 total live capacity 175 MW 175.0 MW.

2026-09-01 - delayed

Polaris Forge 1 Building 2 Phase 1 (75 MW) delivered June 30, 2026 75.0 MW. Promised by 2026-06-30.

2026-09-01 - delayed

Polaris Forge 1 Phase 1 (100 MW) operational October 2025 100.0 MW. Promised by 2025-10-31.

2026-09-01 - stated

$1.59B 7.000% Senior Secured Notes offering 1.59 billion USD.

2026-09-01 - stated

Polaris Forge 1 third data center 150.0 MW. Promised by 2027-12-31.

2026-09-01 - stated

$1.59 billion Senior Secured Notes offering 1590000000.0 USD. Promised by 2031-12-31.

2026-09-01 - stated

$50 million letter of credit from CoreWeave 50000000.0 USD.

2026-09-01 - stated

CoreWeave lease agreement - Polaris Forge 1 11000000000.0 USD.

2026-09-01 - stated

Polaris Forge 1 additional phases capacity 150.0 MW.

2026-09-01 - stated

Polaris Forge 1 ultimate capacity target 1000.0 MW.

2026-09-01 - stated

CoreWeave Building 4 Assignment MOU.

2026-09-01 - stated

$1.59B Senior Secured Notes due 2031 1.59 billion USD. Promised by 2031-01-01.

2026-09-01 - stated

Third facility North Dakota location.

2026-09-01 - stated

Third facility Marathon power contract with option.

2026-09-01 - stated

Ellendale, ND facility planned capacity 180.0 MW.

2026-09-01 - stated

Ellendale HPC facility construction begun 100.0 MW.

2026-09-01 - stated

$300M senior secured bridge facility 300.0 million USD.

2026-09-01 - stated

Lease agreements for Polaris Forge 1 AI campus 250.0 MW.

2026-09-01 - stated

Lease agreement with U.S.-based hyperscaler for 100 MW facility.

2026-09-01 - stated

100 MW HPC facility under construction in Ellendale, North Dakota 100.0 MW.

2026-09-01 - stated

Advanced negotiations with traditional financing institutions for expansion funding.

2026-09-01 - stated

Macquarie up to $900 million investment in Ellendale HPC campus 900000000.0 USD.

2026-09-01 - stated

Ellendale 100 MW HPC facility under construction with late-stage hyperscaler lease discussions 100.0 MW.

2026-09-01 - stated

Ellendale additional 300 MW through two buildings in design stage 300.0 MW.

2026-09-01 - stated

Hyperscaler capacity leases 400 MW Ellendale 400.0 MW.

2026-09-01 - stated

Third 150MW facility at Polaris Forge 1 planned 2027 150.0 MW. Promised by 2027-12-31.

2026-09-01 - delayed

Polaris Forge 1 Building 1 Operational 100.0 MW. Promised by 2025-10-31.

2026-09-01 - delayed

Polaris Forge 1 first phase operational date 100.0 MW. Promised by 2025-12-31.

2026-09-01 - stated

CoreWeave 400 MW lease at Polaris Forge 1 400.0 MW.

2026-09-01 - stated

Polaris Forge 1 ELN-03 150 MW facility expected online 2026 150.0 MW. Promised by 2026-12-31.

2026-09-01 - stated

Polaris Forge 1 third 150 MW facility expected 2027 150.0 MW. Promised by 2027-12-31.

2026-09-01 - stated

Polaris Forge 1 Phase 2 expansion 150.0 MW.

2026-09-01 - stated

Polaris Forge 1 first data center operational 100.0 MW.

2026-09-01 - stated

Polaris Forge 1 CoreWeave leases 400.0 MW.

2026-09-01 - stated

CoreWeave Building 4 lease assignment MOU.

2026-09-01 - stated

CoreWeave Polaris Forge 1 lease 400.0 MW. Promised by 2027-06-30.

2026-09-01 - stated

Polaris Forge 1 AI campus total planned capacity 400.0 MW.

2026-09-01 - delayed

APLD ELN-02 Holdings $150 million senior secured debt from Macquarie Equipment Capital 150000000.0 USD. Promised by 2024-11-27.

2026-09-01 - delayed

Polaris Forge 1 Building 2 Phase 1 Delivered 75.0 MW. Promised by 2026-06-30.

2026-09-01 - stated

Polaris Forge 1 third data center ready for service 2027 150.0 MW. Promised by 2027-12-31.

2026-09-01 - stated

Polaris Forge 1 second data center 150 MW 150.0 MW.

2026-09-01 - stated

CoreWeave Building 4 150 MW lease at Polaris Forge 1 150.0 MW.

2026-09-01 - stated

Polaris Forge 1 CoreWeave leases 400.0 MW.

2026-09-01 - stated

CoreWeave 250 MW lease at Polaris Forge 1 250.0 MW.

2026-09-01 - stated

Polaris Forge 1 Phase 3 ready-for-service date 150.0 MW. Promised by 2027-12-31.

2026-09-01 - stated

Polaris Forge 1 third 150 MW facility 150.0 MW. Promised by 2027-12-31.

2026-09-01 - stated

Polaris Forge 1 second 150 MW facility 150.0 MW. Promised by 2026-12-31.

2026-09-01 - stated

CoreWeave lease credit enhancements with $50 million letter of credit 50.0 million USD.

2026-09-01 - stated

Polaris Forge 1 designed to scale to 1 gigawatt total capacity 1000.0 MW.

2026-09-01 - delayed

Second 150MW facility at Polaris Forge 1 operational mid-2026 150.0 MW. Promised by 2026-06-30.

2026-09-01 - delayed

First 100MW facility at Polaris Forge 1 operational Q4 2025 100.0 MW. Promised by 2025-12-31.

2026-09-01 - stated

CoreWeave 150MW lease option for additional capacity 4000.0 million USD.

2026-09-01 - stated

CoreWeave 250MW lease agreements at Polaris Forge 1 7000.0 million USD.

2026-09-01 - delayed

Ellendale building 369,000+ square feet 369000.0 square feet. Promised by 2025-12-31.

2026-09-01 - delayed

Ellendale HPC facility ready for service. Promised by 2025-12-31.