DALLAS, July 18, 2022 (GLOBE NEWSWIRE) — Utilized Blockchain, Inc. (Nasdaq: APLD) (“Utilized Blockchain” or the “Firm”) has entered right into a five-year internet hosting contract with Marathon Digital Holdings, Inc. (Nasdaq: MARA) (“Marathon”) for 200-Megawatts (“MW”) of Bitcoin mining capability. The Firm will present complete internet hosting companies for Marathon’s Bitcoin miners at Utilized Blockchain’s owned and operated co-hosting datacenters.
“Partnering with Marathon, one of many largest Bitcoin miners within the business, represents a big step ahead in Utilized Blockchain’s development trajectory. The multi-year settlement validates our capabilities as a best-in-class co-hosting datacenter operator. We’re persevering with to develop our contracted internet hosting capability, which gives predictable income over a multi-year timeframe,” stated Utilized Blockchain Chairman and CEO Wes Cummins. “Moreover, demand for our internet hosting companies stays sturdy regardless of the volatility within the cryptocurrency markets, giving us continued confidence within the development potential of our enterprise for fiscal 2023 and past.”
“This new settlement with Utilized Blockchain is instrumental in serving to us obtain our goal of 23.3 exahashes per second of compute energy for Bitcoin mining in 2023,” stated Fred Thiel, Marathon’s chairman and CEO. “Wes and his staff have confirmed themselves to be succesful builders and operators of large-scale datacenters. Their experience in internet hosting and mining operations enhances our asset-light technique, releasing up assets and permitting us to effectively scale Marathon as one the main Bitcoin mining firms in North America. We sit up for working alongside Utilized Blockchain to put in miners and obtain our development targets.”
About Utilized Blockchain
Utilized Blockchain, Inc. (Nasdaq: APLD) is a builder and operator of next-generation knowledge facilities throughout North America, which offer substantial compute energy to blockchain infrastructure and help Bitcoin mining. The Firm has partnered with a few of the most acknowledged names within the business to develop, deploy, and scale its enterprise. Discover extra data at www.appliedblockchaininc.com. Observe us on Twitter at @APLDBlockchain.
About Marathon Digital Holdings
Marathon is a digital asset know-how firm that focuses on supporting and securing the Bitcoin ecosystem. The Firm is at present within the strategy of turning into one of many largest and most sustainably powered Bitcoin mining operations in North America, whereas remaining asset mild.
This launch comprises “forward-looking statements” as outlined within the Personal Securities Litigation Reform Act of 1995 concerning, amongst different issues, future working and monetary efficiency, product improvement, market place, enterprise technique and aims. These statements use phrases, and variations of phrases, comparable to “proceed,” “construct,” “future,” “enhance,” “drive,” “consider,” “look,” “forward,” “assured,” “ship,” “outlook,” “anticipate,” and “predict.” Different examples of forward-looking statements could embrace, however should not restricted to, (i) statements of Firm plans and aims, together with our evolving enterprise mannequin, or estimates or predictions of actions by suppliers, (ii) statements of future financial efficiency, and (iii) statements of assumptions underlying different statements and statements in regards to the Firm or its enterprise. You might be cautioned to not depend on these forward-looking statements. These statements are based mostly on present expectations of future occasions and thus are inherently topic to uncertainty. If underlying assumptions show inaccurate or recognized or unknown dangers or uncertainties materialize, precise outcomes might differ materially from the Firm’s expectations and projections. These dangers, uncertainties, and different elements embrace: decline in demand for our services and products; the volatility of the crypto asset business; the lack to adjust to developments and modifications in regulation; money movement and entry to capital; and upkeep of third celebration relationships. Info on this launch is as of the dates and time durations indicated herein, and the Firm doesn’t undertake to replace any of the data contained in these supplies, besides as required by regulation.
Utilized Blockchain Investor Relations Contacts
Jeff Grampp, CFA or Matt Glover
Gateway Group, Inc.
Utilized Blockchain Media Contact
Gateway Group, Inc.
Marathon Digital Holdings Firm Contact