DALLAS, JULY 18, 2022 (GLOBE NEWSWIRE) – Applied Blockchain, Inc. (Nasdaq: APLD) (“Applied Blockchain” or “The Company”) has entered into a five-year hosting contract with Marathon Digital Holdings, Inc. (Nasdaq: MARA) (“Marathon”) for 200 megawatts (“MW”) of Bitcoin mining capacity. The company will provide comprehensive hosting services for Marathon’s Bitcoin miners at Applied Blockchains owned and operated co-hosting data centers.
“Collaboration with Marathon, one of the largest Bitcoin miners in the industry, represents a significant step forward in Applied Blockchain’s growth path. The multi-year agreement confirms our capabilities as a best-in-class co-hosting data center operator. We continue to increase our contractual hosting capacity , which provides predictable revenue over a multi-year time frame, “said Applied Blockchain Chairman and CEO Wes Cummins. “In addition, demand for our hosting services remains robust despite the volatility of the cryptocurrency markets, which gives us continued confidence in the growth potential of our business for the financial year 2023 and beyond.”
“This new agreement with Applied Blockchain is helping to help us reach our goal of 23.3 exahashes per second of computing power for Bitcoin mining in 2023,” said Fred Thiel, Marathon’s chairman and CEO. Wes and his team have proven to be skilled builders and operators of large data centers. Their expertise in hosting and mining complements our asset-light strategy, frees up resources and allows us to effectively scale Marathon as one of the leading Bitcoin mining companies in the North. “America. We look forward to working with Applied Blockchain to install miners and achieve our growth goals.”
About Applied Blockchain
Applied Blockchain, Inc. (Nasdaq: APLD) is a builder and operator of next-generation data centers across North America, providing significant computing power to blockchain infrastructure and supporting Bitcoin mining. The company has partnered with some of the most reputable names in the industry to develop, distribute and scale the business. Find more information at www.appliedblockchaininc.com. Follow us on Twitter at @APLDBlockchain.
About Marathon Digital Holdings
Marathon is a technology company that focuses on supporting and securing the Bitcoin ecosystem. The company is currently becoming one of the largest and most sustainably operated Bitcoin mining operations in North America, while still being readily available.
Future-oriented statements
This publication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, market position, business strategy and goals. These statements use words and variations of words, such as “continue”, “build”, “future”, “increase”, “drive”, “believe”, “see”, “ahead”, “secure”, “deliver”, “outlook”, “expect” and “predict”. Other examples of forward-looking statements may include, but are not limited to, (i) statements about the company’s plans and objectives, including our evolving business model, or estimates or forecasts of actions by suppliers, (ii) statements about future financial performance, and (iii ) statements about assumptions that form the basis for other statements and statements about the company or its activities. You are warned against trusting these forward-looking statements. These statements are based on current expectations of future events and are therefore inherently subject to uncertainty. If the underlying assumptions turn out to be inaccurate or known or unknown risks or uncertainties materialize, actual results may deviate significantly from the company’s expectations and estimates. These risks, uncertainties and other factors include: decline in demand for our products and services; the volatility of the cryptocurrency industry; inability to follow developments and changes in regulation; cash flow and access to capital; and maintenance of third party relationships. The information in this release applies to the dates and time periods set forth herein, and the Company does not undertake to update any of the information in this material, except as required by law.
Applied Blockchain Investor Relations contacts
Jeff Grampp, CFA or Matt Glover
Gateway Group, Inc.
(949) 574-3860
[email protected]
Applied Blockchain Media Contact
Catherine Adcock
Gateway Group, Inc.
(949) 574-3860
[email protected]
Marathon Digital Holdings Business Contact
(800) 804-1690
[email protected]
