Applied Blockchain announces official name change to Applied Digital
The name change reflects the company’s diversified offering with a focus on high-power computing (HPC) applications
DALLAS, Nov. 17, 2022 (GLOBE NEWSWIRE) — Applied Digital Corporation (Nasdaq: APLD) (“Applied Digital” or the “Company”), a designer, builder and operator of next-generation data centers that power blockchain infrastructure and support High-Performance Computing (HPC) applications, formally changed its name from “Applied Blockchain, Inc.” to “Applied Digital Corporation” effective November 17, 2022. The company’s updated name more accurately reflects its mission, services and broader business offerings to serve customers that require large amounts of computing power for applications. Although Applied Digital continues to be a leading provider of digital infrastructure for cryptocurrency mining, considered HPC applications, it is important for the company to distinguish that its next-generation data centers support many other HPC applications as well. Approved by shareholders at the company’s annual general meeting on November 10, 2022, the name change will have no impact on strategy or operations, and the company’s ticker symbol, “APLD,” will remain unchanged.
“Applied Digital is a stronger and more accurate representation of our focus and variety of key applications to host the next wave of high-performance computing solutions,” said Applied Digital Chairman and CEO Wes Cummins. “We will continue to provide solutions to our customers for cryptocurrency mining, while diversifying our customer base into more high-performance computing instances for our next-generation data centers.”
The new name is effective immediately and reflects the company’s expansion into services including artificial intelligence, machine learning, non-real-time graphics rendering, natural language processing and many more applications that require significant computing power.
About Applied Digital
Applied Digital (Nasdaq: APLD) designs, develops and operates next-generation data centers across North America to provide 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.applieddigital.com. Follow us on Twitter at @APLDdigital.
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