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Applied Blockchain, Inc. (APLD)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
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3.6500+0.5600 (+18.12%)
As of 04:00PM EDT. Market open.
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  • R
    Redhotace
    Craig Hallum Initiates Coverage on Applied Blockchain With Buy Rating, $10 Price Target
    10:25 AM ET, 05/23/2022 - MT Newswires
  • a
    alan
    Am I the only legacy shareholder left with 1/6 of my original holdings, but priced at almost exactly the same price as the week before the reverse split? 80-85% value wiped out. I would love for someone to explain how this will be corrected, but otherwise this is malpractice beyond any security I've owned.
  • R
    Redhotace
    Applied Blockchain
    05/9/2022 -
    *Lake Street Capital Starts Applied Blockchain at Buy With $10 Price Target
    *Needham Initiates Applied Blockchain at Buy With $5.50 Price Target
    *Initiating Coverage of Pure-Play Host APLD at Buy, $10 PT - B. Riley
    -----B. Riley Securities' Lucas Pipes states, "Due to the design and capability of Applied's data centers to serve computing power-intensive applications, we believe the company will be a large beneficiary of not only digital asset miner demand but also growth in nascent markets like artificial intelligence, machine learning, and other blockchain networks."
  • M
    Micah
    I bought in today at $4.60, but left some ammo available in case it comes down. Thoughts on the valuation? Too high, undervalued, about right?
  • R
    Redhotace
    U.S. RESEARCH ROUNDUP- Applied Blockchain
    3:04 AM ET, 05/10/2022 - Reuters
    Northland Capital starts with outperform rating; PT $7.50
  • D
    DanishViking
    Bought in at $4.60, will it pop on day 2.. thats the question :)
    Bullish
  • R
    Redhotace
    CHECK OUT COMPANY'S SLIDE PRESENTATION FROM 5/6/2022.

    Assume this is what caused the initiation of analysts' coverage. Keep in mind B. Riley is involved in this IPO as owners.
  • M
    Micah
    In my unfortunate experiences, one should never hold through a reverse split, it has never turned out positive.
  • R
    Redhotace
    Per Prospectus MDA filed April 12, 2022 (excerpts)
    FUTURE PLANS:

    "First-Second Quarter
    • We brought our first facility in Jamestown, ND online as to the first 55MW on February 2, 2022.

    • Bring the remaining 45MW online at our first facility in Jamestown, ND.

    • Lease or purchase land in Texas on or near a wind farm. Enter into an energy services agreement for 200MW colocated with a wind power generating facility.

    • Continue to enter into customer contracts for our co-hosting services at existing or planned facilities.
    Third-Fourth Quarter

    • Complete construction of additional buildings on our Jamestown, ND property, enter into a second energy services agreement for an additional 100MW for this facility.

    • Lease or purchase another property in Texas. Enter into an energy services agreement for 200MW of wind power for this facility.

    • Enter into an energy services agreement for 150MW of power in Oklahoma.

    • Enter into an energy services agreement for 180MW of power in North Dakota.

    • Continue to enter into agreements with customers for our co-hosting services at existing or planned facilities.

    Calendar Year 2023
    • Enter into agreements with additional customers for any additional capacity not already contracted for at the existing four and any planned facilities.

    • Continue to lease or purchase additional land on which to construct additional facilities and construct additional facilities to build out the remainder of the planned 1.5GW of capacity.

    • Enter into additional energy services agreements with respect to the remainder of the 1.5GW of planned capacity.

    Calendar Year 2024 through Calendar Year 2026
    • Enter into agreements with additional customers for any additional capacity not already contracted for at the existing and planned facilities.

    • Continue to lease or purchase additional land on which to construct additional facilities and construct additional facilities to build out the remainder of the planned 5GW of capacity.

    • Enter into additional energy services agreements with respect to the remainder of the 5GW of planned capacity."

    "As our co-hosting operations expand, we believe our business structure will become conducive to a REIT structure, comparable to Digital Realty Trust (NYSE: DLR) and Equinix, Inc. (NASDAQ: EQIX), each of which is a traditional datacenter operator and Innovative Industrial Properties, Inc. (NYSE: IIPR), a specialty REIT that similarly services a new growth industry. We have begun to investigate the possibility, costs and benefits of converting to a REIT structure."
  • M
    Micah
    By the way, what is the correct valuation/market cap anyways? Lots of different info out there. Yahoo has to be way off with $471k, Barron's says $923million, Marketwatch says $558million, Simplywallstreet says $847million, Seeking Alpha says $923million.
    ?????
  • R
    Redhotace
    8:41 am ET April 12, 2022 (MarketWatch)
    Applied Blockchain Inc. said Wednesday it will offer 8.57 million shares of common stock at an estimated price of $6 to $8 a share in a bid to raise up to $69 million in its initial public offering on the Nasdaq. Applied Blockchain on Friday said it planned to offer about 3.24 million shares between $16.54 and $20.54 per share, for a total of up to $66.5 million. Working with underwriters B. Riley Securities and Needham & Co. Dallas-based Applied Blockchain plans to trade on the Nasdaq under the symbol "APLD."The company is building data centers to host servers securing the bitcoin .
  • R
    Redhotace
    Looks like the NASDAQ listing is finalized and the reverse split took place 4/12/22 EOD.

    Letter from NASDAQ dated 4/11/22:
    "This is to certify that on April 11, 2022 The Nasdaq Stock Market LLC (the "Exchange") received from Applied
    Blockchain, Inc. (the "Registrant") a copy of the Registrant's application on Form 8-A 12(b) for the registration
    of the following securities:
    Common stock, $0.001 par value per share
    We further certify that the securities described above have been approved by the Exchange for listing and
    registration upon official notice of issuance.
    We understand that the Registrant is seeking effectiveness of the Form 8-A 12(b) concurrently with
    effectiveness of its 1933 Act Registration Statement, and we hereby join in such request."
  • R
    Redhotace
    Prospectus Mar 28, 2022 - MD&A Excerpts:

    On March 9, 2022, we ceased all crypto mining operations and completed the sale of all crypto mining equipment in service. We still own some mining equipment. However, the equipment is either not online or was previously purchased but has yet to be delivered. We intend to sell this equipment as soon as possible and have no plans to bring the equipment online or use it for mining purposes.

    Funding Requirements
    Having ceased our operations in 2014, we have experienced net losses until the first quarter of our fiscal year ended May 31, 2022. Our transition to profitability is dependent on the successful mining of crypto assets, the purchase and installation of additional crypto mining equipment and/or the successful operation of one or more of our own co-hosting facilities. We believe that amounts we received from our April 2021 and July 2021 sales of convertible preferred stock, from our crypto mining operations, prior to cessation of such operations on March 9, 2022, and revenue we have begun to achieve in our co-hosting operations since our first co-hosting facility was brought online as to 55MW on February 2, 2022, after planned expenditures to commence building our co-hosting operations, will be sufficient to meet our working capital needs for at least the next 12 months.

    Our Business
    We are building Next-Gen datacenters which are designed to provide massive computing power. Our first facility was constructed in North Dakota and as of February 2, 2022 is online and providing 55MW of energy and services to customers, with the remaining 45MW expected to be brought online during the second calendar quarter of 2022.

    Our mission includes building co-hosting facilities in which our customers will lease space and access to electricity to mine cryptoassets. We are targeting bringing 800MW online by May 2023, 1.8GW by May 2024 and 5GW over the next five years.

    We have purchased property in North Dakota on which we constructed our first co-hosting facility. We have also entered into an Amended and Restated Energy Services Agreement with respect to 100 megawatts to be used by our co-hosting customers. We have also entered into agreements with four customers (JointHash Holding Limited (a subsidiary of GMR), Bitmain Technologies Limited, F2Pool Mining, Inc. and Hashing LLC) which will account for the total available energy under the Amended and Restated Energy Services Agreement at our first facility and 85MW of energy at our second facility once built and able to provide such energy. The company pays for energy from part of the revenue from customers.

    On November 24, 2021, we entered into a letter of intent to develop a facility in Texas with 200MW of wind power. The arrangement is subject to entry into definitive agreements by the parties. There can be no assurance that we will enter into such agreements in a particular time period or at all.
  • c
    crease24
    Who bought these shares? Can't imagine why?
  • Y
    Yahoo Finance Insights
    Applied Blockchain reached an all time low at 2.83
  • Y
    Yahoo Finance Insights
    Applied Blockchain reached a 52 Week low at 2.85
  • Y
    Yahoo Finance Insights
    Applied Blockchain reached a 52 Week low at 3.26
  • Y
    Yahoo Finance Insights
    Applied Blockchain reached a 52 Week low at 3.80
  • Y
    Yahoo Finance Insights
    Applied Blockchain reached a 52 Week low at 3.46
  • Y
    Yahoo Finance Insights
    Applied Blockchain reached a 52 Week low at 3.33
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