Applied Digital will raise $2.35 billion through a senior secured note offering.

Odaily Planet Daily reports that Nasdaq-listed Bitcoin mining hosting and cloud services company Applied Digital announced it will raise $2.35 billion through a private placement of senior secured notes by its subsidiary APLD ComputeCo LLC. The offering is expected to close around November 20, 2025, depending on market and other conditions. The new funds will be used for the construction of its data center campus. (Globenewswire)