thecoinrepublic.com
Lately, there were many companies that went on to witness expansion into space through different means. Another prominent blockchain mining company formerly known as Applied Blockchain, Applied Digital announced their new purchase agreement. On 15th August 2022, the company revealed their stepping into a deal with the intention of adding another mining facility in North Dakota state.
According to Applied Digital, their plan includes setting up a co-hosting facility in the state of North Dakota. However, it will be at a location other than the Jamestown facility. Earlier, the company announced that they have initiated the letter of intent. They also said they were arriving at the later stages of design and pre-construction. The company acquired land in the region to build a whole new facility. The plan was considered groundbreaking for Q3, 2022.
On 25th August 2022, Applied Digital announced the change of the company’s name in order to showcase the broader vision and business opportunities across larger applications of high-power computing (HPC). The company also revealed an update on finances and operations on the same day, which also included the new purchase agreement.
Further, the company went on to state that a significant portion of the upcoming site has been in contact with another prominent mining firm Marathon Digitals. As their contract stated, they have 200 megawatts of power as remaining capacity as an option for their mining site.
With this step coming into motion, the company joined the group of several mining operations that were intended to expand this year, regardless of drastic declines in crypto asset prices during the crypto winter.
One such crypto mining firm, Genesis Digital Assets also announced earlier about securing about 708 megawatts (MW) worth of capacity. Another report showed the recent statement of Cleanspark consisting of an acceptance of their 86 megawatts capacity. This came in the wake of the company’s securing numerous ASIC mining devices at dirt cheap prices.