Applied Digital signs third 150MW lease with CoreWeave; total lease revenue now ~$11B

Applied Digital Corp.

New 150MW lease brings total CoreWeave capacity at Polaris Forge 1 to 400MW; building expected service-ready mid-2027.
Total contract value for the 15-year term is ~$4.0B; total anticipated contracted lease revenue across all three leases ~$11B.
First 100MW building scheduled for Q4 2025; second 150MW building expected operational mid-2026.
Issued CoreWeave warrant for 8,393,611 shares at $10.75 per share; registered under Section 4(a)(2).
Polaris Forge 1 campus planned to scale over 1GW; company estimates $2.7B in savings over 30 years via cooling and renewable power.

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