Applied Digital Signs Anchor Tenant at Ellendale HPC Facility
January 16 2024 - 8:05AM
Applied Digital Corporation (Nasdaq:
APLD) ("Applied Digital" or the
"Company"), a designer, builder, and operator of
next-generation digital infrastructure designed for
High-Performance Computing (“HPC”) applications, announced today it
has signed a conditional agreement to provide datacenter capacity
at its Ellendale, North Dakota campus, subject to finalization of
definitive lease documents. The conditional agreement is for a
total of 100MWs for a term of 10 years and is conditional on
securing financing for the completion of construction. The company
is in conversation with potential lenders to secure the
project-level financing needed. The total contract value (TCV) is
approximately $2.2 billion over the 10-year term.
About Applied DigitalApplied
Digital (Nasdaq: APLD) designs, develops, and operates
next-generation data centers across North America to provide
digital infrastructure solutions to the rapidly growing
high-performance computing (HPC) industry. Find more information at
www.applieddigital.com. Follow us on Twitter at
@APLDdigital.
Forward-Looking StatementsThis
release contains "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995 regarding, among
other things, future operating and financial performance, product
development, market position, business strategy and objectives.
These statements use words, and variations of words, such as
"continue," "build," "future," "increase," "drive," "believe,"
"look," "ahead," "confident," "deliver," "outlook," "expect," and
"predict." Other examples of forward-looking statements may
include, but are not limited to, (i) statements of Company plans
and objectives, including our evolving business model, or estimates
or predictions of actions by suppliers, (ii) statements of future
economic performance, and (iii) statements of assumptions
underlying other statements and statements about the Company or its
business. You are cautioned not to rely on these forward-looking
statements. These statements are based on current expectations of
future events and thus are inherently subject to uncertainty. If
underlying assumptions prove inaccurate or known or unknown risks
or uncertainties materialize, actual results could vary materially
from the Company's expectations and projections. These risks,
uncertainties, and other factors include: decline in demand for our
products and services; the volatility of the crypto asset industry;
the inability to comply with developments and changes in
regulation; cash flow and access to capital; and maintenance of
third party relationships. Information in this release is as of the
dates and time periods indicated herein, and the Company does not
undertake to update any of the information contained in these
materials, except as required by law.
Investor Relations ContactsMatt Glover or Alex
KovtunGateway Group, Inc.(949) 574-3860APLD@gateway-grp.com
Media ContactBrenlyn Motlagh or Diana
JarrahGateway Group, Inc.(949) 899-3135APLD@gateway-grp.com
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