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 (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.
Applied Blockchain (PINK: APLD) announced a joint venture with Antpool Capital Asset Investment L.P., an affiliate of Bitmain Technologies, to develop up to 1.5 Gigawatts of datacenter hosting capacity over 24 months. This partnership leverages Applied Blockchain's expertise in site development and operations, while Antpool will provide technical and operational resources. The joint venture is majority owned by Applied Blockchain, enhancing its position in the blockchain mining infrastructure market.
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.
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.
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