Applied Digital - APLD STOCK NEWS

Applied Blockchain, Inc. (PINK: APLD) has reaffirmed its commitment to establishing mining operations in North America amidst a strategic shift following SparkPool's withdrawal from Ethereum mining services. CEO Wes Cummins stated that this change is not expected to impact Applied Blockchain's business. The company anticipates benefits from China's ongoing mining crackdown and is progressing with its first hosting facility in North Dakota, expected to be operational by year-end. Applied Blockchain engages in diverse crypto mining and infrastructure solutions globally.

Applied Blockchain, Inc. (PINK: APLD) will host a groundbreaking ceremony on September 14, 2021, at its inaugural hosting facility in Jamestown, North Dakota. The event will involve company representatives and local leaders, reflecting progress in the company's large-scale project. CEO Wes Cummins highlighted the completion of site selection, energy agreements, and long-term hosting contracts, indicating rapid development in the company's operations. Applied Blockchain focuses on high-performance crypto mining and has established partnerships to enhance its infrastructure.

Applied Blockchain has entered into an Energy Service Agreement with a utility partner for up to 100 megawatts of power over five years, effective August 4, 2021. This agreement supports its new crypto hosting business, following a $32.5 million capital raise. CEO Wes Cummins expects the first 50 megawatts operational by year-end 2021, with plans to expand to over 500 megawatts. Cummins will also present at the B. Riley Summer Summit on August 18, 2021.

Applied Blockchain, Inc. (APLD) has entered the crypto hosting business after closing a $32.5 million private placement led by Bitmain on July 30, 2021. This funding will facilitate land acquisition, facility construction, and project costs in North America, aiming to generate stable cash flow through long-term hosting agreements. The company plans to establish a data center capable of hosting up to 500 megawatts of power. Strategic partnerships with Bitmain, GMR, and SparkPool will support operational efforts in this new venture.

Applied Blockchain appointed Dr. Richard Nottenburg to its Board of Directors effective June 30, 2021, expanding the board to seven members, five of whom are independent. The CEO, Wes Cummins, highlighted Nottenburg's extensive experience in technology-focused businesses, which is expected to aid the company's operational scaling and supply chain management. Dr. Nottenburg has held leadership roles in various tech companies and is currently involved with several organizations focusing on security analytics and 5G technology. His expertise is expected to enhance shareholder value as the company advances in the altcoin mining space.

Applied Blockchain, Inc. (PINK: APLD) has launched its Ethereum/Altcoin mining operations with a $5 million investment in mining hardware, now installed in North America. This decision follows a pivot from an initial plan to deploy in China. The mining operation commenced on June 24, 2021, and is expected to reach over 200,000 MH/s in hash power, utilizing renewable energy. CEO Wes Cummins emphasized the importance of this transition in response to current market conditions and operational challenges.

Applied Blockchain, Inc. (PINK: APLD) announced its corporate name change from Applied Science Products, effective June 16, 2021. The company is applying to uplist its stock from the OTC Pink Market to the OTCQB Venture Market, maintaining the ticker symbol APLD. CEO Wes Cummins highlighted that this move aims to enhance visibility, liquidity, and compliance with high financial standards. Additionally, the company has engaged a PCAOB-certified firm for auditing its financial statements for the fiscal years ended May 31, 2020, and 2021.

Applied Blockchain, Inc. (OTC: APLD) has appointed Chuck Hastings as an independent director, effective April 22, 2021. Hastings brings over 20 years of financial expertise, enhancing the Board to six members, with four being independent. His experience includes leadership roles at B. Riley Wealth Management and involvement in significant growth in hedge funds. CEO Wes Cummins emphasized the importance of Hastings' skills in scaling mining operations, particularly in the rapidly evolving cryptocurrency sector.

Applied Blockchain, Inc. (OTC: APLD) announced its entry into the Ethereum and Altcoin mining market through partnerships with SparkPool and General Mining Research (GMR). The company secured $16.5 million in a private investment and expects mining capacity to commence in May 2021. Both partners acquired 9.9% equity stakes and signed a three-year services agreement. This strategic move positions APLD to scale operations rapidly and aims to enhance its involvement in the Ethereum ecosystem, including plans to list on the Nasdaq.