This week the mining operation Applied Blockchain introduced that it’s altering its firm identify to Applied Digital. Furthermore, the mining operation launched 2022 monetary outcomes and operational updates that famous that the mining agency entered a purchase order settlement on August 15 for land in North Dakota.
Applied Digital Enters Purchase Agreement on August 15, Groundbreaking Planned for Q3 2022
Another mining firm is reporting enlargement updates as Applied Digital (previously Applied Blockchain) has revealed it has entered a purchase order settlement on August 15. The deal will add a second mining facility in the state of North Dakota. The firm’s information follows the agency getting a $15 million mortgage to fund development and “buildout of its data centers.”
Applied Digital stated, on August 25, that it modified the corporate identify to “reflect the company’s broader business opportunities within larger high-power computing (HPC) applications.” On the identical day, it launched a monetary and operational replace that reveals the brand new buy settlement.
“[Applied Digital’s] third co-hosting facility will be in North Dakota, at a different location than its current Jamestown facility. As previously announced, the Company has executed a letter of intent with a utility and is in the late stages of design and pre-construction,” the corporate detailed. “On August 15, 2022, [Applied Digital] entered into an agreement for the purchase of raw land in North Dakota for construction of the facility. Groundbreaking is planned for the third calendar quarter of 2022.”
The firm added:
A significant portion of the facility capability at this web site has already been contracted by Marathon as a part of their 200MW contract with an possibility for the remaining capability on the web site.
Applied Digital joins a slew of mining operations increasing in 2022 regardless of the tough crypto winter and low digital asset market values. Genesis Digital Assets introduced that the agency secured 708 megawatts (MW) in capability through the first half of 2022. Cleanspark just lately revealed it acquired a plug-in-ready facility with 86 MW of capability after it famous it secured hundreds of ASIC mining units at a “discounted price.”
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