Applied Digital Issues $2.15 Billion Senior Notes to Build Data Center Leased to Oracle

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