Applied Blockchain Announces Groundbreaking for New 180 MW Facility in Ellendale, North Dakota

— The second facility in the state and third for the company as a whole that continues to build out high-performance computing (HPC) infrastructure

— Additional 70MW option included Marathon Digital Inventory (Nasdaq: MARA), bringing total contracted capacity to 276 MW

Dallas, September 19, 2022 (GLOBE NEWSWIRE) — Applied Blockchain, Inc. (Nasdaq: APLD) (“Applied Blockchain” or the “Company”) a designer, builder and operator of next-generation data centers that power blockchain infrastructure and support high-performance computing (HPC) applications, today breaks ground on its 180-megawatt (MW) hosting facility in Ellendale, North Dakota happened on September 8, 2022. The next-generation data center is the second facility within the state, following the successful 100MW facility in Jamestown, North Dakota which opened earlier this year. That Ellendale The facility is expected to begin powering in early the first half of calendar year 2023, leveraging the experience the Company has gained in constructing and operating its facility Jamestown Furnishings.

That Ellendale The facility is officially the third next-generation data center for Applied blockchainwith the construction of its 200 MW plant in Garden City, Texas advances ahead of time with several buildings already constructed.

Applied blockchain has entered into a five-year Energy Service Agreement (ESA) with an energy supplier Dickey County maintenance Ellendale, North Dakota on September 1, 2022. Available transmission capacity and excess wind generation, in addition to strong relationships with North Dakota Municipalities and contractors helping to build and operate the facility were key factors in the site selection.

“The community of Ellendale and representatives of North Dakota He has been fantastic to work with as we bring this next facility to life,” he said Applied blockchain Chairman and CEO Wes Cummins. “The fact that the new 180MW facility is located near a significant wind power capacity will allow it to be powered by renewable energy to further advance future high-performance computing solutions for global businesses and applications. The full capacity of this facility is already under contract, showing that we continue to have significant demand for our hosting services.”

In connection with the execution of ESA and groundbreaking Applied blockchain and Marathon Digital Inventory (Nasdaq: MARA) have jointly executed the option for an additional 70MW of hosting at the Ellendale Location. This brings the contracted capacity with Marathon to 276MW and the total contracted hosting capacity for the company to almost 500MW.

Around Applied blockchain

Applied Blockchain, Inc. (Nasdaq: APLD) designs, develops and operates nationwide next-generation data centers North America Providing cost-effective digital infrastructure solutions for the rapidly growing High Performance Computing (HPC) industry. The company has partnered with the biggest names in the industry to develop, deploy and scale its business. Visit www.appliedblockchaininc.com for more information. Follow us on Twitter at @APLDBlockchain.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to, future operational 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”, “look”, “forward”, “confident”, “deliver”. “,”, “outlook”, “expect” and “predict”. Other examples of forward-looking statements may include, but are not limited to (i) that the Ellendale the facility is expected to be energized in the early first half of calendar year 2023, (ii) statements of the Company’s plans and objectives, including our evolving business model, or estimates or predictions of supplier actions, (iii) statements of future economic performance and (iv) statements of assumptions underlying other statements and statements about the company or its business. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations with regard to future events and are therefore inherently uncertain. Should underlying assumptions prove inaccurate, or known or unknown risks or uncertainties materialize, actual results could differ materially from the Company’s expectations and projections. These risks, uncertainties and other factors include: Delays in the completion of the Ellendale establishment, decrease in demand for our products and services; the volatility of the crypto asset industry; the inability to reflect developments and changes in regulations; cash flow and access to capital; and maintaining relationships with third parties. The information in this press release is as of the dates and periods set forth herein, and the Company makes no commitment to update the information contained in such materials, except as required by law.

Investor Relations ContactsMatt Glover or Jeff GramppCFA
Gateway Group, Inc.
(949) 574-3860
APLD@gatewayir.com

Contact Public Relations
Brenlyn Motlagh
Gateway Group, Inc.
(949) 574-3860
APLD@gatewayir.com

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Source: Applied Blockchain, Inc.

2022 GlobeNewswire, Inc., Source press releases

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