Applied Blockchain secures 200 megawatt five-year hosting contract with Marathon Digital Holdings
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 Blockchain’s owned and operated co-hosting data centers.
“Partnering with Marathon, one of the largest Bitcoin miners in the industry, represents a significant step forward in Applied Blockchain’s growth trajectory. The multi-year agreement confirms our capabilities as a best-in-class co-hosting data center operator. We continue to increase our contracted hosting capacity , which provides predictable revenue over a multi-year time frame,” said Applied Blockchain Chairman and CEO Wes Cummins. “Additionally, demand for our hosting services remains robust despite the volatility of cryptocurrency markets, giving us continued confidence in the growth potential of our business for fiscal 2023 and beyond.”
“This new agreement with Applied Blockchain is instrumental in helping us reach our goal of 23.3 exahashes per second of computing power for Bitcoin mining by 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, freeing up resources and allowing 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 deploy 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 recognized 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 focused on supporting and securing the Bitcoin ecosystem. The company is currently becoming one of the largest and most sustainably run Bitcoin mining operations in North America while still being easily accessible.
Forward-looking statements
This release 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 objectives. These statements use words and variations of words, such as “continue”, “build”, “future”, “increase”, “drive”, “believe”, “see”, “anticipate”, “certain”, “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 predictions about the actions of suppliers, (ii) statements about future financial performance, and (iii) ) statements about assumptions that are the basis for other statements and statements about the company or its activities. You are cautioned against relying on these forward-looking statements. These statements are based on current expectations of future events and are therefore inherently subject to uncertainty. If underlying assumptions prove to be inaccurate or known or unknown risks or uncertainties materialize, actual results may differ materially 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 cryptoasset 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 undertakes no obligation 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 Corporate Contact
(800) 804-1690
[email protected]
