Applied Blockchain, Inc. Chairman and CEO, Wes Cummins, is featured on The Stock Day Podcast
Phoenix, Arizona–(Newsfile Corp. – Sep 21, 2022) – The Stock Day Podcast welcomed Applied Blockchain, Inc. (NASDAQ: APLD ) (the “Company”), a company that designs, builds and operates the next generation of data centers across North America to provide affordable digital infrastructure solutions to the rapidly growing high performance computing (HPC) industry. Company Chairman Wes Cummins joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the company’s background and current projects. “Our company was launched about two years ago with the goal of being one of the largest Ethereum miners in the world,” Cummins said. “Our partners came to us and asked us if we could build capacity for hosting facilities in the US,” he explained. “Bitmain, one of the largest semiconductor manufacturers in the world, ended up being the lead investor for us to build that site, which really kicked us off as a meaningful player.”
“We did what we said we were going to do and we brought the data center online in January,” Cummins continued. “We ended up getting a joint venture with Bitmain to do it fifteen more times,” he shared. “This partnership and joint venture really legitimized us, and we listed on the Nasdaq in April and raised $36 million.”
“We are building two more sites that will bring our capacity to almost 5 times what we are today,” Cummins said. “These sites should come online from late this year to mid-spring,” he said. “Once we have all of this online, we expect our company to be around $100 million in EBITDA generation.”
“The difference between us and other listed miners is that we don’t mine Bitcoin ourselves. We build the facility and offer co-location hosting,” shared Cummins. “We offer a white glove service, and we have long-term, fixed contracts with our customers that keep us out of the day-to-day volatility of Bitcoin.”
“Can you explain the initiative behind the company’s upcoming name change?” asked Jolly. Cummins shared that the company recently announced its intention to change its name from ‘Applied Blockchain, Inc.’ to ‘Applied Digital Corporation’. “We are adding adjacent markets to crypto mining,” he explained. “Our assets not only work for crypto, but they also work for other high-performance computing applications.”
“Can you tell us about the contract with Marathon Digital Holdings?” Jolly asked. “Their business model is to use third-party hosting companies,” Cummins said. “We worked out an agreement that is very beneficial to both of us; it’s a five-year agreement, 200 megawatts, which we actually just extended by another 70 megawatts,” he explained. “They will be our biggest customer, and they are the number one company in the US in terms of miners.”
“What are the sustainability initiatives of Applied Blockchain, Inc. as energy costs continue to rise?” asked Jolly. “We have carefully investigated the power sources of the contracts and counterparties that we sign,” Cummins said. “We are focusing on stranded power opportunities, which have mostly been wind farms,” he added, noting that the company is also looking at solar energy sources. “We co-locate as much as we can with renewables.”
To conclude the interview, Cummins encouraged listeners and shareholders to stay updated on the company’s current and upcoming projects as it continues to expand within the growing Bitcoin mining sector, while expanding the use of its assets across high-performance computing. industry.
To hear the full interview with Wes Cummins, follow the link to the podcast here: https://audioboom.com/posts/8161253-applied-blockchain-inc-chairman-and-ceo-wes-cummins-is-featured-on -aktiedagen – the podcast
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About Applied Blockchain
Applied Blockchain, Inc. (NASDAQ: APLD) designs, develops and operates next-generation data centers across North America to provide affordable digital infrastructure solutions to the rapidly growing high-performance computing (HPC) industry. The company has partnered with the most recognized names in the industry to develop, distribute and scale the business. Find more information at www.appliedblockchaininc.com. Follow us on Twitter @APLDdigital.
Investor Relations contacts
Matt Glover or Jeff Gramp, CFA
Gateway Group, Inc.
(949) 574-3860
[email protected]
Media contact
Brenlyn Motlagh
Gateway Group, Inc.
(949) 899-3135
[email protected]
About the “Stock Day” podcast
Founded in 2013, Stock Day is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while working with penny stock and OTC companies, providing transparency and clarification of undervalued, undersold Micro-Cap stocks in the market. Stock Day provides companies with tailor-made solutions for their news distribution in both national and international media. The Stock Day Podcast is the number one radio show of its kind in America.
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