Applied Blockchain Signs LOI to Develop 200MW Next-Gen Data Center

Rhea-AI Summary

Applied Blockchain (PINK: APLD) announced a letter of intent to develop a 200-Megawatt data center in West Texas, expected to launch in Q2 2022. This facility will be co-located with a wind farm and marks the company's second hosting site. The agreement is still subject to the final documentation negotiations. The company aims to enhance its blockchain infrastructure services through high-performance mining and hosting solutions, supported by significant investment from family offices and institutional investors.

Positive

• Development of a new 200-MW data center in West Texas.
• Co-location with a wind farm enhances sustainable energy use.
• Expected operational launch in Q2 2022, indicating growth.

Negative

• None.

DALLAS, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Applied Blockchain, Inc. ("Applied Blockchain" or the "Company") (PINK: APLD) today announced that it has signed a letter of intent to develop a 200-Megawatt (MW) hosting data center in West Texas. The development agreement is subject to negotiation of final documentation.

The data center will be co-located with a wind farm and will serve as the Company's second facility. The next-gen data center is expected to come online in the second quarter of 2022.

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 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.

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 significance of Applied Blockchain's new data center in Texas?

The new 200-MW data center will enhance Applied Blockchain's infrastructure for cryptocurrency mining and hosting, supporting growth and sustainability.

When is Applied Blockchain's new data center expected to launch?

The new data center is expected to become operational in the second quarter of 2022.

Where will the new data center by Applied Blockchain be located?

The new data center will be located in West Texas, co-located with a wind farm.

What is the stock symbol for Applied Blockchain?

Applied Blockchain is listed under the stock symbol APLD.