Applied Digital issues $2.15 billions in senior notes to build a data center leased to Oracle
Foresight News reported, according to Bloomberg, that bitcoin mining hosting and cloud services company Applied Digital has completed a $2.15 billions issuance of senior secured notes (due in 2031). The funds raised from this issuance will be used to build its AI factory campus Polaris Forge 2 in Harwood, North Dakota. This data center has already been leased to Oracle.
Applied Digital stated that, as reported in October, the North Dakota data center project is expected to generate $5 billions in revenue over the 15-year contract period.
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