Polaris Forge 3
Project of Applied Digital
Where it stands
Applied Digital's 10-Q filed October 7, 2026 says both Polaris Forge 3 buildings, 300 MW in total, are under construction. The campus is leased to a tier-one investment-grade hyperscaler, with expected delivery from 2H 2027 to 2H 2028. As of mid-October 2026 its project financing was still pending, and a separate 1,200 MW gas plant from Base Electron is intended to supply power to the campus, with deliveries expected in 2030. Analysts report talks about a 150 MW expansion, but no contract is disclosed.
300 MW under construction
| Phase | MW | Status | Date | Source |
|---|---|---|---|---|
| Buildings 1-2 (aggregate) | 300 | under construction | Our two buildings at our Polaris Forge 3 campus, with an aggregate 300MW 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 | 300 MW IT load | 2026-10-08 | Hyperscaler leases at Polaris Forge 3 |
| Under construction | 300 MW IT load | 2026-09-01 | Polaris Forge 3 300 MW under construction |
| Permitted | -- | ||
| Interconnect approved utility has agreed to deliver | -- | ||
| Interconnect requested in a queue, nothing approved | -- | ||
| Announced a press-release figure | 300 MW | 2026-10-08 | Polaris Forge 3 initial operations |
Who has claimed this site
Capacity commitments in the order they were announced. A commitment that ended shows why.