Applied Blockchain, Inc. (“Applied Blockchain” or the “Company”) (PINK: APLD), has announced the commencement of its Ethereum/ Altcoin mining operation. The $5 million in mining hardware acquired by the Company has been installed at a facility in North America. This arrangement is a result of the Company’s pivot from its originally planned deployment set to launch in China.
“Despite the logistical and operational challenges it created, pivoting our installation from Asia to North America mid-course was the right decision given current market conditions,” said Applied Blockchain, Inc.’s CEO and Chairman, Wes Cummins. “We are now in a solid position to leverage our supply chain and partners to scale hash power rapidly.”
Mining operations commenced on June 24, 2021and once fully ramped, hash power will exceed 200,000 MH/s. The Company’s mining assets are powered entirely by low-cost renewable energy and will be managed and optimized by its strategic partners.
About Applied Blockchain
Applied Blockchain, Inc. is an Ethereum-focused company that is seeking to quickly scale a large Ethereum/Altcoin mining operation through strategic partnerships with two of the world’s largest and most experienced Ethereum companies.
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Source: Applied Blockchain, Inc.