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) 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.
Applied Digital Corporation (Nasdaq: APLD) reported fiscal Q2 2023 revenue of $12.3 million, achieving a remarkable 78% sequential growth. However, adjusted EBITDA showed a loss of $(2.1 million), and the net loss reached $(26.6 million), translating to $(0.29) per share. The company's first facility in Jamestown operated at full capacity, generating all hosting revenues. Recently secured two non-cryptocurrency clients and launched a $100 million fund targeting distressed digital assets. The company projects nearly 500MW of hosting capacity by fiscal end, aiming for a $100 million annual adjusted EBITDA run rate.
DALLAS, Jan. 3, 2023 – Applied Digital Corporation (Nasdaq: APLD) will participate in the 25th Annual Needham Growth Conference from January 10 to 12, 2023, at The Lotte New York Palace in NYC. The Company will host one-on-one meetings with investors and present on January 10 at 3:00 PM ET. A live and archived webcast of the presentation will be available on their investor relations website. Applied Digital specializes in building and operating next-generation datacenters that support blockchain infrastructure and high-performance computing applications.
Applied Digital Corporation (Nasdaq: APLD) will host a conference call on January 9, 2023, at 5:00 p.m. Eastern time to discuss its fiscal second-quarter financial results, which ended November 30, 2022. A press release detailing these results will be issued post-market closing on the same day. Interested participants may call in and will have the opportunity to engage in a Q&A session after prepared remarks. The call will also be available for replay until January 23, 2023.
Applied Digital Corporation (Nasdaq: APLD) has begun construction of a new 5MW specialized processing center in Jamestown, North Dakota, complementing its existing 100MW facility. The 16,382-square foot building, intended for high-performance computing (HPC) applications, is designed for ultra-low-cost and efficient operations. It is set to energize in the first quarter of 2023, with initial customer launch focusing on machine learning. The HPC market is projected to reach $65.12 billion globally by 2030, positioning Applied Digital favorably within this growing sector.
Applied Digital Corporation (Nasdaq: APLD) has changed its name from Applied Blockchain, Inc. to better reflect its diversified offerings in High-Performance Computing (HPC) applications. Effective November 17, 2022, the name change was approved by shareholders and will have no impact on the company’s operations or strategy. Applied Digital aims to distinguish itself beyond cryptocurrency mining to support a broader range of HPC services, including artificial intelligence and machine learning. The company’s ticker symbol remains APLD.
Applied Blockchain (Nasdaq: APLD) announced its participation in three key investor conferences: the Cantor Fitzgerald Crypto & Disruptive Finance Conference on November 10, 2022, in Miami Beach, Roth's 11th Annual Technology Event on November 16, 2022, in New York City, and Craig-Hallum's 13th Annual Alpha Select Conference on November 17, 2022, in New York. The company will engage in one-on-one meetings with investors to discuss its innovative datacenter solutions for blockchain and HPC applications, solidifying its position in the growing digital infrastructure market.
Applied Blockchain (Nasdaq: APLD) reported fiscal Q1 2023 revenue of $6.9 million, meeting the high end of guidance, with adjusted EBITDA of $(1.9 million, within expectations. The company announced its name change to Applied Digital Corporation, pending shareholder approval on November 10, 2022. Construction continues on co-hosting facilities with planned capacity reaching 500MW by early 2023. Notably, Marathon Digital exercised its option for additional capacity, increasing its total to 276MW. The company ended the quarter with $40.8 million in cash and $14.7 million in debt.
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