Applied Blockchain, Inc. and Babcock & Wilcox Sign Cooperation Agreement to Develop Energy Projects for Cryptocurrency Mining

Rhea-AI Summary

Applied Blockchain (PINK: APLD) has entered a cooperation agreement with Babcock & Wilcox (NYSE: BW) to explore opportunities for developing and operating baseload power and clean energy projects. This initiative supports the growth of cryptocurrency mining operations over the next three years. The partnership aims to leverage both companies' strengths in energy and blockchain infrastructure, potentially enhancing Applied Blockchain's position in the market.

Positive

• Partnership with Babcock & Wilcox to explore clean energy projects enhances potential for cryptocurrency mining.
• Focus on baseload power may provide stable energy supply for mining operations.

Negative

• None.

DALLAS, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Applied Blockchain, Inc. ("Applied Blockchain" or the "Company") (PINK: APLD) today announced that it has signed a cooperation agreement with Babcock & Wilcox (NYSE: BW) ("B&W") to identify and explore opportunities to develop, supply, construct, and operate baseload power and clean energy projects in the next three years, supporting cryptocurrency mining operations.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Applied Blockchain

Applied Blockchain, Inc. (PINK: APLD) is a leading provider in the growth and development of Blockchain infrastructure by delivering high-performance crypto mining, hosting, and pooling solutions to customers around the globe. The Company has partnered with some of the most recognized names in the industry to develop, deploy, and scale its business. The Company is backed by some of the largest family offices and institutional investors in the U.S. Find more information at www.appliedblockchaininc.com.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises is a leader in energy and environmental products and services for power and industrial markets worldwide.

Media Contacts
Jordan Schmidt
Gateway Group, Inc.
(949) 574-3860
APLD@gatewayir.com

Investor Relations Contacts
Matt Glover or Jeff Grampp, CFA
Gateway Group, Inc.
(949) 574-3860
APLD@gatewayir.com

Company Contact
Wes Cummins, Chief Executive Officer
Applied Blockchain, Inc.
(214) 427-1704

FAQ

What is the recent agreement between Applied Blockchain and Babcock & Wilcox about?

Applied Blockchain signed a cooperation agreement with Babcock & Wilcox to explore opportunities in developing and operating clean energy projects for cryptocurrency mining.

How will the agreement with Babcock & Wilcox impact APLD's business?

The agreement aims to support cryptocurrency mining operations, potentially strengthening APLD's market position.

What is the duration of the cooperation agreement between APLD and Babcock & Wilcox?

The cooperation agreement is set to explore opportunities over the next three years.

What is the stock symbol for Applied Blockchain?

The stock symbol for Applied Blockchain is APLD.