CoreWeave in Ellendale (South Dakota border): 400 MW under construction

• 10 Aug 2026Commissioned400 MW

  Applied Digital's Polaris Forge 1 AI data center revitalizes Ellendale, North Dakota

  Applied Digital's Polaris Forge 1, an approximately $11 billion, 2.5-million-square-foot, 400-megawatt AI data center in Ellendale, North Dakota, has been operational since 2022 and is transforming the town's economy. In the first seven months of 2026, the town collected $3.5 million in sales-tax revenue, nearly nine times its pre-data-center annual total of $400,000. The project has funded infrastructure improvements including street repaving, a public-safety complex, and housing development, while creating 200–400 permanent full-time jobs in operations, maintenance, and security. The facility leverages North Dakota's cold climate for cooling efficiency and supports long-term local economic sustainability.

• 11 Feb 2025Financing$375M

  Applied Digital Secures Credit Facility for North Dakota Data Center

  Applied Digital Corp. (APLD) entered into a Credit and Guaranty Agreement dated February 11, 2025, with Sumitomo Mitsui Banking Corporation as administrative agent and collateral agent. The financing facility will support the design, development, engineering, construction, equipping, and maintenance of data center buildings in Ellendale, North Dakota. The agreement includes term loan provisions with tiered margin structures and comprehensive covenants typical of project finance arrangements for critical infrastructure.

• 5 Nov 2024Pre-lease100 MW

  Applied Digital in Active Lease Negotiations for 100 MW Ellendale HPC Data Center

  Applied Digital Corp. is concurrently negotiating definitive lease documentation with multiple hyperscalers for its 100 MW purpose-built HPC data center in Ellendale, North Dakota, designed for GPU and AI workloads. The facility is nearing completion and represents the first of three planned 400 MW total capacity buildings on the site. The company is actively working with three separate hyperscalers following the expiration of an initial exclusivity period, though no lease has been finalized. Applied Digital considers this a unique market-leading asset but acknowledges material uncertainty regarding lease completion and revenue generation.

• 7 Jun 2024Financing$200M

  Applied Digital Secures $200M Private Debt Facility for Ellendale HPC Campus

  Applied Digital Corp. secured a private debt facility of up to $200 million to accelerate construction of its high-performance computing (HPC) data center campus in Ellendale, North Dakota. The facility includes a $125 million initial commitment with the ability to increase to $200 million by mutual agreement. The funding will support ongoing construction costs for the next-generation HPC infrastructure project. This financing demonstrates Applied Digital's strategy to expand its data center footprint across North America.

• 31 May 2024Earnings$150M

  Applied Digital Reports FY2024 Results: 199% Revenue Growth, Ellendale Restored to Full Capacity

  Applied Digital Corporation reported fiscal year 2024 results with revenue of $165.6 million, up 199% from $55.4 million in FY2023, driven by expansion of data center hosting capacity and launch of cloud services for AI/HPC applications. The company's 180 MW Ellendale, North Dakota facility was restored to full operating capacity by June 28, 2024, after transformer failures caused a power outage during the fourth quarter. Applied Digital secured an LOI with a US hyperscaler for 400 MW capacity at Ellendale and raised over $150 million in funding post-fiscal year end. The company operates 286 MW total hosting capacity and is marketing three additional campuses totaling 1.4 GW.

• 24 May 2024Financing

  Applied Digital Issues Convertible Debenture for Ellendale HPC Data Center

  Applied Digital Corporation announced the issuance of an unsecured convertible debenture on May 24, 2024, to finance construction advancement of its high-performance computing (HPC) data center project in Ellendale, North Dakota. The company stated that net proceeds will be strategically deployed to accelerate the construction phase and fulfill contractual obligations. Applied Digital is simultaneously negotiating project-level financing to ensure timely completion of the facility.

• 24 May 2024Financing

  Applied Digital Secures Financing for Ellendale Data Center

  Applied Digital Corp. filed an 8-K disclosing a promissory note financing arrangement for its Ellendale data center hosting facility. The note carries a zero percent annual interest rate, with default provisions that trigger interest accrual if an event of default occurs and remains uncured. This financing supports the company's continued development and operations of the Ellendale facility.

• 29 Apr 2024Expansion80 MW

  Applied Digital accelerates Ellendale data center capacity restoration to 80 MW

  Applied Digital Corporation is accelerating capacity restoration at its Ellendale data center facility in North America following transformer replacement issues. The facility is currently operating at approximately 80 MW and the company expects to continue ramping capacity ahead of previously reported schedules. Substandard transformers are being replaced with North American-sourced units to meet industry standards. The capacity constraints continue to materially impact revenues until all non-compliant transformers are replaced, though new HPC hosting data centers under construction and cloud services operations remain unaffected.

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