Applied Digital Targets 3.5 GW to 4 GW by End of 2030

Applied Digital is targeting 3.5 gigawatts to 4 gigawatts of capacity by the end of 2030 and expects more than 600 megawatts to enter service over the next 12 months as demand for computing infrastructure expands.

The company expects prices on 250 megawatts of new expansion leases to be materially higher by year-end. Lease rates are projected to be more than 15% higher, with the expansion leases carrying premium pricing.

Applied Digital is expanding data centers for high-performance computing and artificial-intelligence demand. It also operates blockchain data centers serving Bitcoin (BTC) and cryptocurrency-mining clients.

Risks to the expansion plan include local moratoriums, tighter permitting, community resistance, supply chain tightness and financing-rate volatility. Applied Digital has highlighted mitigation efforts and flexibility to refinance its portfolio as it develops additional capacity.

More than 600 megawatts is expected to enter service during the next 12 months, while the company works toward its longer-term capacity target for the end of 2030.