Foresight News reports that Bitcoin mining hosting and cloud services company Applied Digital has completed a $2.15 billion senior secured note issuance (maturing in 2031). The funds raised will be used to build its AI factory campus Polaris Forge 2 in Harwood, North Dakota, which has been leased to Oracle.
Applied Digital stated that in October, there was news that the North Dakota data center project is expected to generate $5 billion in revenue over a 15-year contract period.
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