APLD's Delta Forge 1 (430 MW campus) leased 300 MW to a US-based 'high investment-grade' hyperscaler — $7.5B contracted value over ~15 years. Backs into ~$24/kW-month, which is the right reference point for any 'what does a megawatt sell for' conversation right now.
Primary source · Applied Digital ↗
Why it matters
Useful per-MW pricing reference point for hyperscaler-lease-vs-build.md and ercot-large-load-underwriting.md scenario models.
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