Applied Digital (APLD) has finalized a lease for an extra 150 MW of critical IT capacity with AI hyperscaler CoreWeave (CRWV) at its Polaris Forge 1 Campus in Ellendale, North Dakota, bringing the site’s total contracted capacity to 400 MW across three long-term agreements—according to a company press release.
Under the new deal, Applied Digital’s anticipated contracted lease revenue rises to about $11 billion, up from $7 billion tied to the two 15-year leases signed in May. The 150 MW will be housed in the third building of Polaris Forge 1 and is slated to reach full capacity in 2027.
The original 100 MW data center is on track for Q4 2025 service readiness, and a second 150 MW facility currently under construction is expected online by mid-2026. Polaris Forge 1 is engineered to scale up to 1 GW over time, leveraging renewable power and North Dakota’s cool climate to deliver proprietary waterless cooling and optimize total cost of ownership—projected to yield $2.7 billion in 30-year savings.
Read More: Applied Digital stock jumps over 6% on $3 billion data center expansion announcement
At time of publication, APLD is up 1.2% during pre-market hours.
