Applied Digital - APLD STOCK NEWS

Applied Blockchain (Nasdaq: APLD) announced a loan agreement with a North Dakota bank for up to $15 million on July 25, 2022. The funds will be used to repay existing debt and enhance liquidity for datacenter expansion. The initial interest rate is 1.5% for the first 13 months, increasing to 6.5% thereafter. CEO Wes Cummins emphasized the facility's role in supporting growth and meeting customer demand, highlighting the company's low-cost, non-dilutive debt financing strategy.

Applied Blockchain (Nasdaq: APLD) has appointed Regina Ingel as the new Chief Marketing Officer, effective August 1, 2022. Previously the Executive Vice President of Operations, Ingel aims to enhance the company's marketing strategy, focusing on branding and community outreach to support growth. Her experience and deep understanding of the company's vision are expected to drive further market penetration. Additionally, Applied Blockchain recently secured a five-year hosting contract with Marathon Digital Holdings for 200 MW of Bitcoin mining capacity, a pivotal move for the company's growth.

Applied Blockchain (Nasdaq: APLD) updates its fiscal fourth quarter 2022 guidance, projecting revenues between $7.0 million and $7.4 million, significantly up from prior estimates. Despite a partial outage due to equipment failure in Jamestown, North Dakota, construction of a new 200 MW facility in Texas is progressing. The third facility in North Dakota is also in design, aiming for a total capacity of 500 MW that could generate $100 million in annual Adjusted EBITDA. The company highlights strong demand for its services, reducing concerns over equity dilution.

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.