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← Applied Digital Corporation · Sites

Polaris Forge 2

Under construction

Harwood, ND · USA

ColocationOwnedEncumbered — pledged as collateral
Polaris Forge 2 — Nov 2, 2026Nov 2, 2026
Active (IT load)—
In build (IT load, excl. active)300 MW
Theoretical (gross)—

Deals · Undisclosed customer - 10/2025 (200 MW IT)

Blocks (4)*

BlockDealCurrent / targetdelivered shareStatusSchedule**CoolingMiscEst. Capacity - EoY 2028IT loadEst. Capacity - EoY 2030IT load
PF2 - 1Undisclosed customer - 10/2025— / 150 MW IT
Contracted
Delivery end · Dec 31, 2026
————
PF2 - 1 (Contracted)Undisclosed customer - 10/2025— / 50 MW IT
Contracted
Delivery end · Mar 31, 2027
————
PF2 - 1 (uncontracted)—— / 100 MW IT
Speculative
Delivery end · Jun 30, 2027
————
PF2 - 2—— / 600 MW gross
Speculative
———0 MW428 MW
Total— / 761.5*** MW IT— / 990*** MW gross

Financings (1)

*Blocks follow a site's build-out over time; an expansion is a new block. A deal can span several blocks — picking a deal in the form prefills its remaining contracted capacity, net of what its other blocks already target. Power figures are recorded on the basis the source reported, IT load and/or gross.

**A block's capacity is taken to come online at its delivery end date (the actual date when one is recorded, otherwise the target); failing that at its delivery start date; failing that one year after its energization target. That resolved date is what the capacity estimates on the Sites & Capacity tab use.

*** Converted from the other basis with the PUE common metric (currently 1.3), because the blocks do not all state this one.