Polaris Forge 2
Project of Applied Digital
Where it stands
Polaris Forge 2 in Harwood, North Dakota has two buildings totaling 300 MW under construction. 200 MW is leased to an investment-grade hyperscaler, and management projects a further 100 MW expansion lease by year-end. Initial ready-for-service is expected in the second half of calendar 2026, with full capacity in early 2027; no passage through 2026-10-16 reports any capacity in service yet.
300 MW under construction
| Phase | MW | Status | Date | Source |
|---|---|---|---|---|
| Buildings 1-2 (two buildings) | 300 | under construction | Our two buildings at our Polaris Forge 2 campus, with an aggregate 300MW of capacity, are currently under construction. 2026-10-07 View cached copy (2026-10-08)Live source ↗ |
Assessed October 18, 2026 from the newest filings, releases and reporting that name this project (newest relied on: October 16, 2026).
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 | -- | ||
| Contracted a customer is on the hook | 200 MW | 2026-10-08 | Polaris Forge 2 contracted 200 MW |
| Under construction | 280 MW | 2025-12-04 | Polaris Forge 2 Construction and Capacity Timeline |
| Permitted | -- | ||
| Interconnect approved utility has agreed to deliver | -- | ||
| Interconnect requested in a queue, nothing approved | -- | ||
| Announced a press-release figure | 1,000 MW | 2026-10-06 | Polaris Forge 2 potential 1 GW scale |
Who has claimed this site
Capacity commitments in the order they were announced. A commitment that ended shows why.
2025-10-21
Undisclosed counterparty (one or more) - tenant · 200 MW · 15-year term source
2026-03-01
Oracle - tenant source
Claims about this project
2025-09-11 - stated
Polaris Forge 2 investment 3000000000.0 USD.
2025-09-11 - verified
2025-09-11 - stated
2025-09-11 - stated
Polaris Forge 2 IT load capacity 200.0 MW.
2025-09-11 - stated
Polaris Forge 2 operational timeline. Promised by 2026-12-31.
2025-09-21 - stated
2025-09-21 - stated
Polaris Forge 2 operational timeline. Promised by 2027-12-31.
2025-09-21 - stated
Polaris Forge 2 capital investment 3000000000.0 USD.
2025-09-21 - stated
Polaris Forge 2 facility capacity 200.0 MW.
2025-09-22 - stated
Polaris Forge 2 initial operations date. Promised by 2026-12-31.
2025-09-22 - stated
2025-09-22 - stated
Polaris Forge 2 construction investment 3000000000.0 USD.
2025-09-22 - stated
Polaris Forge 2 full capacity date. Promised by 2027-12-31.
2025-10-08 - stated
2025-10-08 - stated
$50M Macquarie Equipment Capital funding for Polaris Forge 2 50000000.0 USD.
2025-10-08 - stated
2025-10-08 - stated
2025-10-09 - stated
2025-10-09 - stated
2025-10-09 - stated
2025-10-09 - stated
Macquarie Equipment Capital $50M for Polaris Forge 2 50000000.0 USD.
2025-10-09 - stated
Polaris Forge 2 campus size and cost 300.0 MW.
2025-10-09 - stated
2025-10-09 - stated
Polaris Forge 2 hyperscaler lease talks 600.0 MW.
2025-10-09 - stated
2025-10-09 - stated
2025-10-09 - stated
Polaris Forge 2 campus scale 1.0 GW.
2025-10-09 - stated
2025-10-09 - stated
2025-10-09 - stated
2025-10-09 - stated
Macquarie Equipment Capital - $50 million for Polaris Forge 2 50.0 USD millions.
2025-10-20 - stated
2025-10-21 - stated
2025-10-21 - stated
Lease agreement with U.S.-based hyperscaler at Polaris Forge 2 5000000000.0 USD.
2025-10-21 - stated
2025-10-21 - stated
Polaris Forge 2 deployment timeline 200.0 MW.
2025-10-21 - stated
2025-10-22 - stated
2025-11-11 - stated
2025-11-11 - stated
2025-11-11 - stated
2025-11-11 - stated
2025-11-11 - outcome unconfirmed
2025-12-04 - stated
Polaris Forge 2 Hyperscaler Lease 200.0 MW.
2025-12-04 - stated
2025-12-04 - stated
2025-12-04 - stated
Macquarie Promissory Note Funding 50.0 USD millions.
2025-12-04 - stated
Polaris Forge 2 Hyperscaler Total Contract Revenue 5000.0 USD millions.
2026-01-06 - stated
2026-01-06 - stated
Polaris Forge 2 initial capacity. Promised by 2026-12-31.
2026-01-06 - stated
2026-01-07 - stated
2026-01-07 - stated
2026-01-07 - stated
Polaris Forge 2 campus investment 3000000000.0 USD.
2026-01-07 - stated
Polaris Forge 2 hyperscaler lease 5000000000.0 USD.
2026-01-07 - stated
2026-01-07 - stated
2026-01-07 - stated
2026-01-07 - stated
Harwood data center lease signed 200.0 MW.
2026-01-07 - stated
Investment-grade hyperscaler 200 MW lease at Polaris Forge 2 5000000000.0 USD.
2026-01-07 - stated
Macquarie preferred equity draw $562.5M 562500000.0 USD.
2026-01-15 - stated
2026-02-08 - stated
2026-03-01 - stated
2026-03-01 - stated
2026-03-01 - stated
2026-03-03 - stated
$2.15B senior secured notes offering 2150000000.0 USD.
2026-03-03 - stated
2026-03-03 - stated
2026-03-03 - stated
2026-03-09 - stated
Polaris Forge 2 expansion to 200 MW 200.0 MW.
2026-03-09 - stated
2026-03-12 - stated
2026-04-07 - stated
2026-04-07 - stated
2026-04-07 - stated
2026-04-08 - stated
2026-04-08 - stated
2026-04-08 - stated
2026-04-08 - stated
$2.15B Senior Secured Notes offering 2150.0 USD.
2026-04-08 - stated
2026-04-08 - stated
2026-04-22 - stated
2026-04-22 - outcome unconfirmed
2026-07-26 - stated
$2.15 billion Senior Secured Notes offering 2150.0 USD.
2026-07-27 - stated
2026-07-27 - stated
$2.15B 6.750% Senior Secured Notes due 2031 (ComputeCo 2) 2150000000.0 USD.
2026-07-27 - stated
Polaris Forge 2 capacity 200.0 MW.
2026-07-27 - stated
$2.15B 6.750% Senior Secured Notes offering 2.15 billion USD.
2026-07-27 - stated
$2.15B Senior Secured Notes for Polaris Forge 2 2150000000.0 USD.
2026-07-27 - stated
2026-07-27 - stated
Polaris Forge 2 200 MW development 200.0 MW.
2026-07-27 - stated
2026-07-28 - stated
Polaris Forge 2 customer lease 200.0 MW.
2026-07-28 - stated
2026-07-28 - stated
Polaris Forge 2 groundbreaking 200.0 MW.
2026-07-28 - stated
Polaris Forge 2 hyperscaler lease 200.0 MW.
2026-07-28 - stated
2026-07-28 - stated
2026-07-28 - stated
Investment-grade hyperscaler lease at Polaris Forge 2 5.0 billion USD.
2026-07-29 - stated
Polaris Forge 2 hyperscaler lease 200 MW 200.0 MW.
2026-07-29 - stated
2026-07-29 - stated
2026-07-29 - stated
2026-07-29 - stated
2026-08-20 - stated
$5B co-location agreement with U.S. hyperscaler for Polaris Forge 2 5000000000.0 USD.
2026-08-20 - stated
$5B hyperscaler customer agreement for 200 MW at Polaris Forge 2 5000000000.0 USD.
2026-08-22 - stated
Polaris Forge 2 capacity funding 200.0 MW.
2026-08-22 - stated
2026-08-22 - stated
2026-08-22 - stated
$2.15 billion senior secured notes for Polaris Forge 2 2.15 billion USD.
2026-08-22 - stated
2026-09-01 - stated
2026-09-07 - stated
2026-09-07 - stated
Polaris Forge 2 first buildings delivery. Promised by 2026-12-31.
2026-09-07 - stated
Polaris Forge 2 first buildings online. Promised by 2026-12-31.
2026-09-07 - stated
Polaris Forge 2 delivery timeline. Promised by 2028-07-01.
2026-09-07 - stated
2026-09-07 - stated
Data center delivery timeline through 2028. Promised by 2028-12-31.
2026-09-07 - stated
Polaris Forge 2 first buildings expected online in calendar 2026. Promised by 2026-12-31.
2026-09-07 - stated
Polaris Forge 2 delivery phase schedule. Promised by 2028-06-30.
2026-09-07 - stated
Campus delivery schedule through 2028. Promised by 2028-12-31.
2026-09-09 - stated
Polaris Forge 2 expected online date. Promised by 2026-12-31.
2026-09-09 - stated
Polaris Forge 2 first buildings coming online. Promised by 2026-12-31.
2026-09-15 - stated
2026-09-16 - stated
Polaris Forge 2 hyperscaler lease 200.0 MW.
2026-09-16 - stated
2026-09-16 - stated
2026-09-24 - stated
Polaris Forge 2 lease for 200 MW 200.0 MW.
2026-09-25 - stated
2026-09-25 - stated
2026-09-25 - stated
2026-09-26 - stated
2026-09-29 - stated
Hyperscaler leases at Polaris Forge 2 4.82 USD billions.
2026-09-29 - stated
2026-10-03 - stated
2026-10-03 - stated
Hyperscaler leases at Polaris Forge 2 200.0 MW.
2026-10-06 - stated
2026-10-06 - stated
2026-10-06 - stated
Hyperscaler leases at Polaris Forge 2 200.0 MW.
2026-10-07 - stated
2026-10-07 - stated
2026-10-07 - stated
$1.59B 7% notes fully fund PF1 and PF2 contracted capacity 1590000000.0 USD.
2026-10-07 - stated
Polaris Forge 1 and 2 fully funded 600.0 MW.
2026-10-07 - stated
2026-10-08 - stated
2026-10-08 - stated
Polaris Forge 2 contracted 200 MW 200.0 MW.
2026-10-08 - stated
Polaris Forge 2 to lift North Dakota delivered load to 300 MW by end-2026 300.0 MW. Promised by 2026-12-31.
2026-10-08 - stated
2026-10-08 - stated
2026-10-08 - stated
2026-10-08 - stated
Polaris Forge 2 initial operations. Promised by 2026-12-31.
2026-10-11 - stated
2026-10-16 - stated
Polaris Forge 2 Harwood lifts North Dakota capacity to 300 MW by year-end 300.0 MW. Promised by 2026-12-31.
Site intelligence
Analytical estimate. Each site below is located from public records (filings, releases, news, OpenStreetMap) and checked against free satellite imagery; "How we located this site" lists every step and the score it earned. The conclusion is computed from night-time lights, surface heat and year-over-year change, with the dates it rests on. These are hypotheses under active tracking, not legal parcels or an official endorsement.
Harwood, North Dakota, ND
Weak Cass County, ND
46.9794, -96.8806
Approximate address 216 Main St, Harwood, ND 58042, USA Reverse-geocoded from the candidate centroid; not a permit-confirmed parcel address.
Conclusion so far We have not located the site yet. · confidence 30%
Undetermined: we have not yet located the actual site, only the town or county it is in, so imagery cannot say whether anything is running.
What would change this: A published address, parcel, coordinates or permit for the site itself.
Latest clear imagery: Google 2026-09-29
Newest clear images4 clear image date(s)
How we located this site
5/100 (weak): locality location 5
- Initial geocode 2026-09-05
Harwood, North Dakota, ND → town/county centre, 4 km box -- not the site - Starting point (the project's stated locality) 2026-10-19
Harwood, North Dakota → 46.98445, -96.88474 (locality) - No site-level evidence yet 2026-10-19
no address, road, landmark or coordinates tie this project to a specific parcel yet -- the town is shown, NOT the site - OpenStreetMap features nearby 2026-10-19
0 named match(es)
Satellite imagery on this page is drawn from the Google Earth satellite basemap. Each image is dated, labelled by source and pixel resolution, and downloadable at its native size; cloudy dates are kept and marked rather than hidden. New scenes are pulled daily as each provider publishes them.