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 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.
Applied Blockchain, Inc. (Nasdaq: APLD) will host a conference call on October 11, 2022, at 5:00 p.m. ET to discuss its fiscal first-quarter financial results ending August 31, 2022. A press release with detailed results will be shared after market close on the same day. Management will provide remarks followed by Q&A. Interested parties can join via a U.S. dial-in number or an international line. A replay will be available from 8:00 p.m. ET on October 11 through October 25, 2022.
For more information, visit the company's website.
Applied Blockchain (Nasdaq: APLD) announced on September 16, 2022, the filing of a Registration Statement on Form S-1 for approximately 48.3 million existing shares of common stock. These shares, primarily held by insiders and partners, are set to be available for sale starting December 1, 2022, under Rule 144, pending SEC approval of the Form S-1. The registration does not include new shares, and offers to buy may only be accepted once the Form S-1 is effective. This filing aims to facilitate the sale of unregistered securities without constituting an offer prior to registration.
Applied Blockchain (Nasdaq: APLD) has commenced groundbreaking of a 180MW hosting facility in Ellendale, North Dakota, having secured an Energy Service Agreement with a utility partner. This facility is the third in the company's network, following a 100MW site in Jamestown and a 200MW site in Texas. The company also expanded its partnership with Marathon Digital Holdings (Nasdaq: MARA), increasing contracted capacity at Ellendale to 276MW. The facility aims to utilize renewable energy, enhancing high-performance computing solutions by commencing operations in early 2023.
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