Welcome to our dedicated page for Applied Digital Corporation news (Ticker: APLD), a resource for investors and traders seeking the latest updates and insights on Applied Digital Corporation stock.
Applied Digital Corp designs, develops and operates next-generation datacenters across North America to provide digital infrastructure solutions to the rapidly growing high-performance computing industry. The company recently entered into a private financing agreement with a single investor where it issued a $42,131,579 unsecured convertible debenture. The debenture bears no interest and has a term of 54 weeks.
Applied Blockchain, Inc. (Nasdaq: APLD) has engaged in a significant five-year hosting contract with Marathon Digital Holdings, Inc. (Nasdaq: MARA) for 200 megawatts of Bitcoin mining capacity. This partnership positions Applied Blockchain as a leading co-hosting provider and reinforces its revenue predictability. CEO Wes Cummins noted strong demand for hosting services, with expectations of continued growth through fiscal 2023. Marathon's CEO highlighted the collaboration as crucial for achieving its Bitcoin mining targets in 2023, leveraging Applied Blockchain's expertise in data center operations.
Applied Blockchain (Nasdaq: APLD) has announced the expiration of a lock-up agreement related to its initial public offering. This involved the conversion of 2,040,000 shares of preferred stock into 36,441,489 shares of common stock, effective after a reverse stock split. The shares became tradable on June 11, 2022, following an effective Registration Statement on Form S-1. Applied Blockchain operates data centers across North America that support blockchain infrastructure and Bitcoin mining, partnering with industry leaders to enhance its business.
Applied Blockchain (Nasdaq: APLD) announced the return of 4,965,432 shares from Xsquared Holding Limited (SparkPool) due to their cessation of operations amidst a crackdown on cryptocurrency in China. This return reduces the total outstanding shares by approximately 5%. CEO Wes Cummins emphasized that this development does not affect the company's financial guidance or growth targets. Applied Blockchain is transitioning from Ethereum mining to operating next-generation data centers to support blockchain infrastructure.
Applied Blockchain (Nasdaq: APLD) reported its fiscal third quarter results for 2022, ending February 28, with revenues at $1.0 million primarily from its hosting business. The company incurred a net loss of $6.4 million, or ($0.12) per diluted share, with an adjusted EBITDA of ($1.7) million. Operational highlights include the activation of a 55 MW datacenter in Jamestown, North Dakota, and a joint venture with Antpool for co-hosting infrastructure. The company anticipates $40 million EBITDA in fiscal 2023, aiming for 800 MW capacity by May 2023 and long-term growth to 5 GW capacity.
Applied Blockchain (Nasdaq: APLD) announced its participation in three upcoming conferences: the 17th Annual Needham Technology & Media Conference on May 16-18, 2022, the 22nd Annual B. Riley Institutional Investor Conference on May 25-26, 2022, and the D.A. Davidson Bitcoin & Blockchain Conference on June 2, 2022. CEO Wes Cummins will present at both the Needham and B. Riley conferences. The Needham presentation is on May 17 at 11:45 a.m. ET, while the B. Riley presentation is on May 26 at 12:30 p.m. ET. The company is focused on building data centers to support blockchain infrastructure and Bitcoin mining.
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.
Applied Blockchain (Nasdaq: APLD) will host a conference call on May 13, 2022, at 9:00 a.m. ET to discuss its fiscal Q3 2022 operations and results. The detailed press release will be issued before market open on the same day. A question-and-answer session will follow the prepared remarks. Interested parties should dial in 10 minutes early, with a toll-free replay available after 12:00 p.m. ET on the same day through May 27, 2022. Applied Blockchain operates cutting-edge data centers in North America, supporting blockchain infrastructure and Bitcoin mining.
Applied Blockchain, Inc. (NASDAQ: APLD) has successfully completed its initial public offering (IPO) of 8,000,000 shares at $5.00 each, raising approximately $36.1 million after expenses. The shares began trading on Nasdaq on April 13, 2022. The funds will be utilized to expand co-hosting facilities, enter energy service agreements, and support working capital needs. Underwriters have a 30-day option to purchase an additional 1,200,000 shares at the offering price. This IPO positions Applied to enhance its blockchain infrastructure capabilities across North America.
Applied Blockchain announced the pricing of an initial public offering (IPO) of 8,000,000 shares at $5.00 per share, with shares starting to trade on the Nasdaq under the ticker symbol APLD on April 13, 2022. The offering is set to close on April 18, 2022, pending customary conditions. The company expects to net approximately $36 million from the IPO, which could rise to $41.6 million if underwriters exercise their additional purchase option. Proceeds will be used for property leasing and development, energy agreements, and working capital.
Applied Blockchain has announced an initial public offering (IPO) of $60 million of its common stock, as per a registration statement filed with the SEC. The offering includes a 30-day option for underwriters to purchase an additional 15% of the shares. The company will be listed on the Nasdaq Global Select Market under the ticker APLD. B. Riley Securities and Needham & Company are leading the offering, which aims to support the company's expansion in next-generation data centers for blockchain and Bitcoin mining.
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