On August 29, 2025, Applied Digital announced the finalization of a new lease agreement with CoreWeave for an additional 150MW at its Polaris Forge 1 Campus in Ellendale, North Dakota. This expands CoreWeave's critical IT capacity at the site.
This new long-term lease, combined with two initial ~15-year leases, brings the total critical IT capacity across the campus's three agreements to 400MW. The anticipated contracted lease revenue for Applied Digital from these agreements now totals $11 billion.
This significant expansion is crucial for CoreWeave to meet the surging demand for its AI and high-performance computing operations. It solidifies CoreWeave's infrastructure footprint and provides a substantial runway for future growth in the specialized AI cloud market.
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