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 Digital Corporation (Nasdaq: APLD) reported its fiscal third quarter 2023 results, showcasing a revenue of $14.1 million, marking a 14% growth sequentially. While the company recognized an adjusted EBITDA of $0.9 million, it recorded an adjusted loss of $1.4 million, or $0.01 per share. The completion of its latest co-hosting facility in Ellendale, North Dakota, with a capacity of 180 MW, signifies progress, as it began energization in early March. Additionally, the company confirmed the start of operations in its Jamestown HPC facility within 4-5 weeks. Management remains optimistic about diversifying its customer base in the HPC market despite ongoing strong demand from cryptocurrency miners.
Applied Digital Corporation (Nasdaq: APLD) has announced the rescheduling of its earnings conference call to April 6, 2023, at 9:00 a.m. Eastern time, to discuss operations and financial results for the fiscal third quarter ended February 28, 2023. This change from the original Thursday afternoon timing aims to facilitate better engagement with investors. A detailed press release outlining these results will precede the call. Interested parties can join the call via designated U.S. and international dial-in numbers, with a replay available post-call until April 20, 2023.
Applied Digital Corporation (Nasdaq: APLD) will host a conference call on April 6, 2023, at 5:00 p.m. Eastern time to discuss its fiscal third quarter results ending February 28, 2023. The financial results will be released after market close on the same day. The call will include a prepared remarks section followed by a Q&A. Interested parties can join by dialing the U.S. number 1-877-407-0792 or the international number 1-201-689-8263, using the Conference ID 13736971. A replay will be available from 9:00 p.m. Eastern on April 6 through April 20, 2023.
Applied Digital Corporation (Nasdaq: APLD) has successfully energized its new 180-megawatt (MW) facility in Ellendale, North Dakota, just six months after breaking ground on September 8, 2022. This marks the company's second facility in North Dakota, bringing its total hosting capacity to 280MW in the state. The new site has multi-year contracts with customers, significantly enhancing its hosting capabilities.
The company also secured a $20 million loan from Starion Bank to fund the facility's buildout. Additionally, a ribbon-cutting ceremony is planned for Spring. The Ellendale facility is strategically located to mitigate grid congestion issues.
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