Applied Digital Secures $2.15B Bond for Oracle Data Center

Edgen Crypto

·Mar 04 2026, 06:16

Share to

Share to

Copy link

Key Takeaways

Applied Digital, a Bitcoin mining and cloud services company, has completed a landmark $2.15 billion bond financing to expand its data center operations for a major technology client. The deal, led by Goldman Sachs, underscores a strategic shift for crypto-native infrastructure firms toward the high-demand AI computing market.

Massive Financing: Applied Digital raised $2.15 billion through a five-year bond issuance led by Goldman Sachs.
AI Infrastructure Buildout: The funds will finance a new 200-megawatt data center in North Dakota.
Blue-Chip Client: The new facility is fully leased to technology giant Oracle, securing a stable, long-term revenue stream outside of crypto mining.

Applied Digital Closes $2.15B Bond Deal Led by Goldman Sachs

Bitcoin mining and cloud services company Applied Digital has successfully completed a $2.15 billion bond issuance, marking a significant capital raise for the firm. The five-year bond financing was led by investment bank Goldman Sachs, signaling strong institutional confidence in the company's growth strategy and underlying assets. This substantial capital injection is directly allocated to fund the company's expansion into large-scale data infrastructure for enterprise clients.

200MW Oracle Lease Signals Pivot to AI Computing

The proceeds from the bond sale are earmarked to finance the construction of a 200-megawatt data center in North Dakota. This facility is underpinned by a long-term lease agreement with technology corporation Oracle, which will utilize the capacity for its cloud services. The deal provides Applied Digital with a predictable, long-term revenue stream from a blue-chip tech client, diversifying its business away from the volatility of the cryptocurrency mining sector. This strategic pivot highlights a broader trend where companies with expertise in building and operating power-intensive crypto mining farms are now leveraging their skills to meet the explosive demand for AI and high-performance computing (HPC) infrastructure.