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SAVRN Research · Capital Atlas · North Dakota

North Dakota Data Center Investment Tracker

North Dakota carries 6 named site commitments worth at least $26.9B in disclosed capital, set against 4 projects blocked, delayed or restricted, 3 of them moratoria or delays, as of October 8, 2026.

Updated October 8, 2026 6 named sites 4 blocked, delayed or restricted 7 financing transactions 25 sources
North Dakota
ND
4 capital providers on record
Named sites
6
Site-level commitments the atlas records in North Dakota
Disclosed capital floor
$26.9B
Sum of sites with a stated dollar figure. Sites without one are listed, not counted
Disclosed capacity
1,840 MW
Sum of sites with a stated megawatt figure
Blocked, delayed or restricted
4
$10.0B of announced capital in those projects
Who is investing

Who is investing in data centers in North Dakota?

The largest disclosed commitments in North Dakota are Applied Digital (Polaris Forge 1, ~$11.0B); Critical Data House (Project Fighting Pike data center (southwest of U.S. Highway 2 and U.S. 85 Bypass), $10.0B); Applied Digital (Polaris Forge 2, $5.0B). Together the 6 named sites here carry a disclosed floor of $26.9B; sites with no dollar figure are listed but not counted.
Applied Digital 3 sites · $16.0BMacquarie Asset Management 1 site · $900M
Named sites

Named data center sites in North Dakota

Each row is one site-level commitment with its capital provider, the figure the source states, and the status the source gives it. Capital is shown as one compact figure; the verbatim wording is in the row's sources.

SiteCapital providerPlaceCapitalMWStatusSources
Polaris Forge 1
Building 2 completed (250 MW operational) 2 October 2026; third building ready-for-service calendar 2027
 Applied Digital
with CoreWeave
 Ellendale ~$11.0B 400 operating
Project Fighting Pike data center (southwest of U.S. Highway 2 and U.S. 85 Bypass)
Subdivision plat approved 25 March 2025; delay to late 2028 or early 2029 reported 17 September 2026; single outlet
 Critical Data House Williston, Williams County $10.0B n.a. announced
Polaris Forge 2
broke ground August 18, 2025
 Applied Digital Harwood $5.0B 200 construction
Applied Digital Polaris Forge 1
facility executed October 7, 2025; first-tranche financing February 2025
 Macquarie Asset Management
with Applied Digital, CoreWeave
 Ellendale $900M 400 construction
Harmony Energy Park data center (near the Bison Substation)
Conditional use permit application filed; reported 29 September 2026 (North Dakota Monitor)
 Geronimo Power
with Otter Tail Power (proposed large load tariff under PSC review)
 Harmony Township, north of Mapleton, Cass County n.a. 540 proposed
Applied Digital Polaris Forge 3
May 20, 2026
 Applied Digital Center, Oliver n.a. 300 announced
Capital at risk

Blocked, delayed or restricted in North Dakota

Every project in North Dakota on the atlas's capital-at-risk record: the action taken, who took it, and the announced capital affected. Restarts and reversals are recorded with the same weight as blocks.

ProjectDeveloperJurisdictionActionCapitalSources
Project Fighting Pike data center (Critical Data House)
delayed Plat approved 25 March 2025; delay to late 2028 or early 2029 reported 17 September 2026; single outlet
 Critical Data House City of Williston (title acquisition under Hague Convention service)
Critical Data House originally said its $10 billion, 450-acre Williston data center would operate by January 2027. No work has started since the city approved the subdivision plat on 25 March 2025, because the company cannot take clear title until more than 1,100 foreign investors in an abandoned development on the land, mostly in Malaysia and Singapore, are served under Hague Convention procedures. The company told the Williston Herald it now expects operations in late 2028 or early 2029, with a 20 to 24 month build once it holds title.
 $10.0B
Mandan large-scale data center ban (citizen petition, special election)
other Special election set for 15 December 2026 (reported 7 October 2026); single outlet
 n.a. City of Mandan
Following a citizen petition, Mandan voters will decide in a special election on Tuesday 15 December 2026 whether to ban large-scale data centers, City Administrator Jim Neubauer said; the measure cannot share a date with a separate special election for a vacant City Commission seat.
 n.a.
Mercer County campus (530+ acres)
moratorium Mar 4 2026; dollar value n.a.
 NextEra / Boulevard Associates Mercer County, ND
One-year moratorium
 n.a.
Morton County data center and cryptocurrency facility moratorium
moratorium Hearing 12 September 2024 (adoption date not stated in sources); still in place 10 September 2026 when a data center ordinance passed 4-1; lifting pending
 n.a. Morton County Commission
Morton County scheduled a public hearing for 12 September 2024 on a moratorium on data centers, following a July 2024 moratorium on direct air capture facilities. The Bismarck Tribune reported that the county's moratorium on data centers and cryptocurrency facilities, adopted by resolution, was still in place when the commission approved a data center ordinance 4-1 on 10 September 2026. The commission considered lifting the moratorium that day, but staff said a notice period was required and expected it at the next meeting.
 n.a.
Financing

Financing transactions tied to North Dakota sites

Transactions the atlas ties to a named site in North Dakota: joint ventures, project bonds, credit facilities, leases and power agreements. Amounts are as stated; overlapping commitments are never summed.

PartiesInstrumentAmountDateSiteSources
Applied Digital + CoreWeave
Additional 150MW lease with CoreWeave, taking Ellendale to 400MW.
 lease ≥$11.0B August 29, 2025 Polaris Forge 1
Applied Digital + CoreWeave
Two 15-year lease agreements with CoreWeave at Ellendale, North Dakota.
 lease ~$7.0B June 2, 2025 Polaris Forge 1
Applied Digital + unnamed investment-grade hyperscaler
AI factory lease with a US-based, unnamed investment-grade hyperscaler at Polaris Forge 2.
 lease $5.0B October 22, 2025 Polaris Forge 2
Macquarie Asset Management + Applied Digital
Executed with Macquarie Asset Management, not Blackstone (premise correction preserved from the source).
 preferred $5.0B executed October 7, 2025 Applied Digital Polaris Forge 1
Applied Digital
Senior secured notes funding Polaris Forge 2.
 senior notes $2.1B priced March 4, 2026 Polaris Forge 2
Applied Digital + Macquarie Asset Management
Earlier Ellendale financing referenced in the first-tranche coverage.
 debt facility $375M February 2025 Applied Digital Polaris Forge 1
Applied Digital + Base Electron Corporation
On 4 October 2026 Applied Digital entered into a Power Purchase Agreement and a related credit support agreement with Base Electron for capacity and energy from an approximately 1,200 MW natural gas-fired generation facility Base Electron is to develop in Center, North Dakota, as dedicated generation for the Polaris Forge 3 campus. The agreement has a 15-year delivery term and may be terminated by Base Electron if financial close for the plant has not occurred by 31 March 2027. Base Electron is a related party: Applied Digital owns about 10% and it is owned and managed by certain Applied Digital officers and directors, including Wes Cummins; Applied Digital also holds a demand promissory note from Base Electron of up to $100 million ($59.3 million outstanding at 31 August 2026).
 ppa n.a. Signed 4 October 2026; disclosed in Applied Digital's Form 10-Q and earnings release filed 7 October 2026 Applied Digital Polaris Forge 3
Policy context

What governs a data center in North Dakota

North Dakota (special session vote on data center nondisclosure agreements)state
Senate Bill 2406 would have banned NDAs between government entities and developers of data centers and other industrial projects
The North Dakota Senate voted 32-15 on 3 September 2026, during a three-day special session, to reject SB 2406, which carried penalties for companies entering NDAs with government agencies. Governor Kelly Armstrong testified that existing transparency laws are sufficient, and the committee chair said the bill needed full hearings.

The policy layer for North Dakota lives in three companion references: the North Dakota Data Center Moratorium Tracker for every state measure and local moratorium on record, the Water Tracker for the water rules that touch a site, and the Grid Operator Watchlist for the large-load rules of the RTO or utility that decides whether it can energize.

Next door

States next door

Minnesota
3 sites
31 blocked, delayed or restricted
Montana
1 site
10 blocked, delayed or restricted
South Dakota
1 site
6 blocked, delayed or restricted
On the map

Data centers in North Dakota

The US Data Center Map identifies 26 facilities run by 10 operators in North Dakota, each one placed from primary sources and listed by city and by operator, with this atlas record beside it.

North Dakota data centers
26 facilities · 10 operators
Map, locations, operators, rules
North Dakota power and local economy
Generation, utilities and county records
Explore the power supply chain and local conditions behind the build-out
US Data Center Map
Every state, one page each
The national map and the operator directory
Sources

Sources for North Dakota

Every source cited on this page, once each. The full atlas source register is at Capital Atlas sources.

Every state, one page each

Alabama 9 / 21Alaska 1 / 1Arizona 11 / 11Arkansas 2 / 8California 10 / 35Colorado 6 / 21Connecticut 0 / 6Delaware 0 / 5Florida 0 / 46Georgia 23 / 57Hawaii 0 / 0Idaho 2 / 2Illinois 10 / 35Indiana 14 / 44Iowa 3 / 22Kansas 5 / 19Kentucky 6 / 26Louisiana 7 / 3Maine 0 / 20Maryland 1 / 22Massachusetts 0 / 11Michigan 4 / 55Minnesota 3 / 31Mississippi 7 / 5Missouri 10 / 25Montana 1 / 10Nebraska 3 / 16Nevada 8 / 12New Hampshire 0 / 5New Jersey 4 / 61New Mexico 3 / 10New York 6 / 21North Carolina 10 / 45North Dakota 6 / 4Ohio 24 / 80Oklahoma 11 / 20Oregon 1 / 8Pennsylvania 16 / 42Rhode Island 0 / 5South Carolina 6 / 20South Dakota 1 / 6Tennessee 6 / 26Texas 106 / 35Utah 11 / 12Vermont 0 / 3Virginia 33 / 50Washington 9 / 22Washington, DC 0 / 0West Virginia 4 / 3Wisconsin 4 / 45Wyoming 11 / 5

Figures beside each state are named sites and blocked, delayed or restricted projects.

Part of the North American Data Center Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Announced commitments overlap one another and overlap reported capital expenditure, so this page shows disclosed floors and never adds them into a single deployment figure. Informational, not investment or legal advice.
The SAVRN reference set

Seven references, one system

Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.

Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
Open the watchlist →
Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
Open the tracker →
Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
Open the water tracker →
Grid Operator Watchlist
ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.
Open the watchlist →
Permits and Power Development
Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.
Open the permits tracker →
SAVRN Scarcity Tracker
Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.
Open the scarcity tracker →
Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding.
Check an address →