Applied Digital Corporation, formerly known as Applied Blockchain, Inc., has crossed 1 GW of contracted critical IT load capacity across its AI data center campuses. The company now trades on NASDAQ under the ticker APLD and has contracted over 1,200 MW of critical IT load across four AI Factory campuses.
From crypto mines to AI factories
The company rebranded from Applied Blockchain, Inc. and redirected its expertise in high-density power delivery toward AI and high-performance computing workloads. The facilities can still handle blockchain applications, but AI and HPC represent the growth trajectory.
The flagship development is Polaris Forge 1 in Ellendale, North Dakota. As of early July 2026, the campus reached 175 MW of operational AI capacity after delivering Phase 1 of Building 2, which added 75 MW on top of the initial 100 MW building completed earlier. That delivery came on schedule.
The entire Polaris Forge 1 campus is fully leased to CoreWeave under agreements spanning approximately 15 years, with the site scaling toward a contracted 400 MW total. The estimated revenue from those CoreWeave leases alone sits at roughly $11 billion.
