Applied Blockchain, Inc. announced the addition of 70MW of long-term hosting contracts, bringing the Company’s total long-term hosting contracts to 185MW. The newly added hosting agreements represent a 61% increase in Applied Blockchain’s long-term hosting services, demonstrating the Company’s execution on the growing demand for cryptocurrency mining solutions.
With regulatory challenges worldwide, cryptocurrency miners are facing a significant displacement of hosting capacity. Applied Blockchain’s 185MW of long-term hosting contracts, and strategic approach to building the necessary infrastructure to meet increasing demand, position the Company to become a leader in pool and hosting services.
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“The broad adoption of cryptocurrency and blockchain technologies is accelerating, and we are building and scaling our business to be a leading provider of hosting services and solutions,” said Wes Cummins, Applied Blockchain’s CEO and Chairman. “Our long-term contracts represent our customers’ confidence in our ability to bring large amounts of capacity online in a timely fashion. We’re on the cutting edge of new technology, and our ability to deliver increased capacity at a high level of service will be critical to our continued success and upward trajectory.”
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Applied Blockchain broke ground in September 2021 on its innovative hosting facility, which will provide 50MW of capacity by the end of the year. The facility’s hosting and pooling operations are projected to begin in Q4 2021, and the Company plans to scale capacity up to 100MW in early 2022.
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