DALLAS, May 28, 2021 / PRNewswire / – Applied Blockchain, Inc. (OTC: APLD) announced today that it has signed a purchase agreement with Sparkpool, the world’s largest Ethereum mining pool, to produce NVIDIA GPUs as part of the company’s plan to scale of a large company to procure Ethereum / Altcoin mining operation. This purchase corresponds to the Company’s planned initial deployment of $ 5 million of mining hardware (cost of $ 23 per Mh / s) in its presentation in April.
The plants, which will run entirely on inexpensive renewable energies, are expected to be operational by mid-June. Mining is expected to begin with an initial hash rate of more than 200,000 MH / s. In light of recent discussions about cracking down on miners, management made a strategic decision to revise their plans and locate the hardware in North America instead of China.
“Having started our business just last month, this agreement signals our rapid movement to invest capital and scale our crypto mining activities,” said the CEO and Chairman of Applied Blockchain, Inc., Wes Cummins. “While the first operations will go online a few weeks later than originally planned, we felt it was important to optimize our deployment given current market conditions. What is important is that we still scale our operations with processing power that uses inexpensive, clean energy. After addressing the initial supply chain and deployment bottlenecks, the company will be able to scale hash performance quickly over the coming months. “
A video update from Mr. Cummins, which is ongoing, is available on the company’s website at Appliedblockchaininc.com/events under the Events and Presentations tab.
About Applied Blockchain
Applied Blockchain Inc is an Ethereum and Altcoin focused company looking to quickly scale a large Ethereum / Altcoin mining operation through strategic partnerships with two of the world’s largest and most experienced Ethereum companies.
SparkPool focuses on professional mining pool services and the stable operation of public chain networks with the world’s largest Ethereum mining pool. The company is dedicated to optimizing technology and services, providing safe and stable services to thousands of users every day. With a good reputation in the community, stable mining pool services, and fair rewards distribution, it is a world-leading pool.
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Investor Relations contacts
Brett Maas • Managing Partner, Hayden IR
[email protected] • (646) 536-7331
Wes Cummins • Chief Executive Officer, Applied Blockchain
SOURCE Applied Blockchain, Inc.