Applied Blockchain, Inc. Expands its Blockchain Industry


DALLAS, May 10, 2022 (GLOBE NEWSWIRE) – Applied Blockchain, Inc. (“Applied Blockchain” or “Company”) (Nasdaq: APLD), a creator and operator of next-generation data centers that provide power to the blockchain infrastructure and support Bitcoin mining, has celebrated the formal opening of its 100 megawatt (MW) hosting in Jamestown, North Dakota. The ribbon-cutting ceremony was attended by North Dakota Governor Doug Burgum, along with company representatives and strategic partners for the grand opening event on Thursday, May 5, 2022.

Applied Blockchain provides high-performance blockchain infrastructure and cryptocurrency mining solutions on its hosting facilities. The electrical installation dedicated to the blockchain began on September 14, 2021 and saw the completion of the standing buildings at the end of December 2021. The installation currently has 83 MW in line, and the rest is scheduled to go online during the second natural quarter of 2022. The new 100 MW facility follows Applied Blockchain’s recent initial public offering with its common stock listing on the Nasdaq Global Select Market under the symbol “APLD”.

“As part of our commitment to advance the blockchain movement and further drive digital transformation opportunities for global businesses and the financial industry, the new 100 MW facility is ready to power the blockchain infrastructure,” said Wes Cummins, CEO of Applied Blockchain. “The Jamestown community and North Dakota representatives have been great to work with as we bring this state-of-the-art facility to life. In partnership with our dedicated team, Applied Blockchain can now support and serve more customers than ever before.”

“Congratulations to Applied Blockchain for completing its state – of – the – art data center in Jamestown. This company first visited North Dakota last July, began on September 14, and had eight buildings standing by the end of December. This is a success story, “said Doug Burgum, governor of North Dakota. “With substantial investments like this, North Dakota continues to establish itself as a place of choice for high-performance computing and cryptocurrency mining.”

Commitment to Renewable Energy
Applied Blockchain seeks to be a leader in the Web3 infrastructure and ensure a carbon-neutral, decentralized democratic web experience. By using large interruptible loads to power a cryptographically secure transactional network, Applied Blockchain can act as a ballast used to stabilize the power grid while encouraging intermittent renewable energy generation such as wind and solar.

About Applied Blockchain, Inc.
Applied Blockchain, Inc. is a builder and operator of next-generation data centers in North America, which provide substantial computing power for the blockchain infrastructure and support Bitcoin mining. The company has partnered with some of the most recognized names in the industry to develop, deploy and expand its business.

Warning note on forward-looking statements
Some statements contained in this press release constitute “forward-looking statements.” These forward-looking statements represent Applied Blockchain’s expectations or beliefs about future events, and the results described in this press release may not be achieved. These forward-looking statements are subject to risks, uncertainties, and other factors, which are set forth in the Applied Blockchain registration statement on Form S-1 (Reg. No. 333-261278), as amended, many of which are outside Applied. Blockchain. control, which could cause the actual results to differ materially from the results discussed in the forward-looking statements. These include, but are not limited to, statements about the intended use of the proceeds of the offering.

Any forward-looking statement speaks only from the date it is made and, unless required by law, Applied Blockchain does not undertake to update or revise any forward-looking statement, whether as a result of new information. future events or not. New factors arise from time to time, and Applied it is not possible to predict all of these factors. When considering these forward-looking statements, you should consider risk factors and other warning statements in the prospectus submitted to the SEC in relation to Applied Blockchain’s public offering. Risk factors and other factors listed in the Applied Blockchain prospectus could cause your actual results to differ materially from those contained in any prospective statement.

Investor Relations Contacts
Matt Glover or Jeff Grampp, CFA
Gateway Group, Inc.
(949) 574-3860
APLD@gatewayir.com

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

Photos accompanying this ad are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/f33d16e1-d46a-4b11-9ed1-6212122eda60

https://www.globenewswire.com/NewsRoom/AttachmentNg/eb1e110b-e433-45f8-af90-30eb5f5939c5



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