Applied blockchain increases long-term hosting contracts by 61% to 185 MW
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DALLAS, October 22, 2021 (GLOBE NEWSWIRE) – Applied Blockchain, Inc. (“Applied Blockchain” or the “Company”) (ROSE: APLD) today announced the addition of 70 MW of long-term hosting contracts, bringing the Company’s total long-term hosting contracts to 185 MW. The new hosting deals added represent a 61% increase in Applied Blockchain’s long-term hosting services, demonstrating the company’s performance in the face of growing demand for cryptocurrency mining solutions.
With regulatory challenges around the world, cryptocurrency miners face a significant shift in hosting capacity. Applied Blockchain’s 185 MW of long-term hosting contracts and the strategic approach to building the infrastructure necessary to meet growing demand, position the company to become a leader in pool and hosting services. .
“The widespread adoption of cryptocurrency and blockchain technologies is accelerating, and we are growing and growing our business to become a leading provider of hosting services and solutions,” said Wes Cummins, CEO and President of Applied Blockchain. “Our long-term contracts represent our customers’ confidence in our ability to bring large amounts of capacity online in a timely manner. We are at the forefront of new technologies and our ability to provide increased capacity at a high level of service. will be critical to our continued success and upward trajectory. “
Applied Blockchain inaugurated its innovative hosting center in September 2021, which will provide 50 MW of capacity by the end of the year. Hosting and pooling operations for the facility are expected to begin in the fourth quarter of 2021, and the Company plans to increase capacity to 100 MW in early 2022.
About applied blockchainApplied Blockchain, Inc. (ROSE: APLD) is a leading provider in the growth and development of Blockchain infrastructure by providing high performance crypto mining, hosting and pooling solutions to customers around the world whole. The company has partnered with the most recognized names in the industry to develop, deploy and evolve its business. The company is backed by some of the largest family offices and institutional investors in the United States. For more information, visit www.appliedblockchaininc.com.
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Forward-looking statementsThis press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 concerning, among other things, future operational and financial performance, product development, market position, business strategy and objectives. These statements use words and word variations, such as “continue”, “build”, “the future”, “increase”, “lead”, “believe”, “look”, “forward”, “confident”. “,” Deliver, “” outlook “,” expect “and” predict. “Other examples of forward-looking statements may include, but are not limited to, (i) statements of the Company’s plans and objectives , including our evolving business model, or estimates or forecasts of actions by suppliers, (ii) statements of future economic performance, and (iii) statements of assumptions underlying other statements and statements regarding the Company or its business. You are cautioned not to rely on any forward-looking statements. These statements are based on current expectations of future events and are therefore inherently subject to uncertainty. ” prove to be inaccurate or if known risks or uncertainties o u unknowns materialize, actual results could differ materially from the Company’s expectations and projections. These risks, uncertainties and other factors include: declining demand for our products and services; the volatility of the crypto asset industry; failure to comply with regulatory developments and changes; cash flow and access to capital; and maintaining relationships with third parties. The information contained in this press release corresponds to the dates and periods indicated here, and the Company does not undertake to update the information contained in these documents, except as required by law.
Media contactsJordan SchmidtGateway Group, Inc. (949) [email protected]
Investor Relations ContactsMatt Glover or Jeff Grampp, CFAGateway Group, Inc. (949) [email protected]
Company contactWes Cummins, CEO of Applied Blockchain, Inc. (214) 427-1704
Source: Applied Blockchain, Inc.