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Applied Digital will raise $2.35 billion through the issuance of senior secured notes.

Golden Finance reports that Applied Digital, a Nasdaq-listed Bitcoin mining custody and cloud services company, announced it will raise $2.35 billion through its subsidiary APLD ComputeCo LLC by issuing senior secured notes. This issuance will be conducted via a private sale and is expected to be completed around November 20, 2025, with the exact timing depending on market and other conditions. The new funds will be used for the construction of its data center campus.

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