Applied Blockchain, Inc. Expands its Blockchain Industry Infrastructure with the Formal Opening of its 100MW Facility in North Dakota

Rhea-AI Summary

Applied Blockchain announced the opening of its 100-megawatt hosting facility in Jamestown, North Dakota, with a ribbon cutting ceremony attended by Governor Doug Burgum and industry leaders on May 5, 2022. This facility, which broke ground in September 2021, aims to enhance blockchain infrastructure and support Bitcoin mining. Currently, 83MW is operational, with full capacity expected in Q2 2022. The company emphasizes its commitment to renewable energy and aims to stabilize the electrical grid while promoting sustainable energy production.

Positive

• Completion of 100MW hosting facility in North Dakota enhances blockchain service capacity.
• 83MW of the facility is already operational with full capacity expected by Q2 2022.
• Commitment to renewable energy initiatives aligns with sustainability goals.

Negative

• None.

Governor Burgum of North Dakota Joins the Company, Partners, and Industry Leaders for the Formal Ribbon Cutting Ceremony of the New Operational Hosting Facility

DALLAS, May 10, 2022 (GLOBE NEWSWIRE) -- Applied Blockchain, Inc. ("Applied Blockchain" or the "Company") (Nasdaq: APLD), a builder and operator of next-generation datacenters that provide power to blockchain infrastructure and support Bitcoin mining, celebrated the formal opening of its 100-megawatt (MW) hosting facility in Jamestown, North Dakota. The ribbon cutting ceremony was attended by Governor Doug Burgum of North Dakota, along with company representatives and strategic partners for the grand opening event on Thursday, May 5, 2022.

Applied Blockchain delivers high-performance blockchain infrastructure and cryptocurrency mining solutions at its hosting facilities. The dedicated blockchain power facility broke ground on September 14, 2021 and saw the completion of the standing buildings by the end of December 2021. The facility currently has 83MW online, with the remainder scheduled to come online during the second calendar quarter of 2022. The new 100MW facility follows Applied Blockchain’s recent initial public offering with its common stock listing on the Nasdaq Global Select Market under the symbol “APLD.”

“As part of our commitment to advance the blockchain movement and further propel digital transformation opportunities for global enterprises and the financial industry, the new 100MW facility is ready to provide power to the blockchain infrastructure,” said Wes Cummins, CEO of Applied Blockchain. “The community of Jamestown and representatives of North Dakota have been outstanding to work with as we brought this state-of-the-art facility to life. In collaboration with our dedicated team, Applied Blockchain is now able to support and service more customers than ever before.”

“Congratulations to Applied Blockchain on the completion of their state-of-the-art datacenter in Jamestown. This company first visited North Dakota last July, broke ground September 14, and had eight buildings standing by the end of December. This is a success story,” said Doug Burgum, Governor of North Dakota. “With substantial investments like this, North Dakota continues to establish itself as a location of choice for high-performance computing and cryptocurrency mining.”

Commitment to Renewable Energy
Applied Blockchain seeks to be a leader in Web3 infrastructure and secure a decentralized democratic web experience in a carbon neutral way. By using large interruptible loads to power a cryptographically secure transactional network, Applied Blockchain can act as a ballast used to stabilize the electrical grid while encouraging the buildout of intermittent renewable energy generation such as wind and solar.

About Applied Blockchain, Inc.
Applied Blockchain, Inc. is a builder and operator of next-generation datacenters across North America, which provide substantial compute power to blockchain infrastructure and support Bitcoin mining. The Company has partnered with some of the most recognized names in the industry to develop, deploy, and scale its business.

Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements.” These forward-looking statements represent Applied Blockchain’s expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, which are set forth in Applied Blockchain’s registration statement on Form S-1 (Reg. No. 333-261278), as amended, many of which are outside of Applied Blockchain’s control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. These include, but are not limited to, statements regarding the intended use of proceeds from the offering.

Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Applied Blockchain does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for Applied to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements in the prospectus filed with the SEC in connection with Applied Blockchain’s public offering. The risk factors and other factors noted in Applied Blockchain’s prospectus could cause its actual results to differ materially from those contained in any forward-looking statement.

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

Public Relations Contact
Catherine Adcock
Gateway Group, Inc.
(949) 574-3860
APLD@gatewayir.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/f33d16e1-d46a-4b11-9ed1-6212122eda60

https://www.globenewswire.com/NewsRoom/AttachmentNg/eb1e110b-e433-45f8-af90-30eb5f5939c5

FAQ

What is the significance of the new facility for Applied Blockchain (APLD)?

The new 100-megawatt facility in Jamestown, North Dakota, significantly increases Applied Blockchain's capacity to support Bitcoin mining and blockchain infrastructure.

When was the ribbon cutting ceremony for the new facility held?

The ribbon cutting ceremony took place on May 5, 2022.

How much of the new hosting facility is currently operational?

Currently, 83 megawatts of the new facility are operational.

What are the future plans for the hosting facility in North Dakota?

Full capacity of 100 megawatts is expected to be online by the second calendar quarter of 2022.

What is Applied Blockchain's commitment to renewable energy?

Applied Blockchain aims to lead in Web3 infrastructure with a focus on carbon neutrality and enhancing renewable energy generation.