• Divestiture Reflects Strategy to Focus on Strategic HPC Sites in
• Redirects Resources and Strengthens Balance Sheet
Completed in 2023, Applied Digital's
"This strategic transaction represents a purposeful pivot, equipping the Company to allocate financial and operational resources toward strategic sites in
"Applied Digital has proven to be an invaluable partner, exemplifying excellence in both the construction and management of their data centers. As we anticipate the finalization of this mutually beneficial transaction, we are confident it will enable both companies to advance our long-term strategies with greater efficacy, fostering a path towards continued success," said
About Applied Digital
Applied Digital (Nasdaq: APLD) designs, develops, and operates next-generation data centers across
About
Marathon is a digital asset technology company that focuses on supporting and securing the Bitcoin ecosystem. The Company is currently in the process of becoming one of the largest and most sustainably powered Bitcoin mining operations in
Forward-Looking Statements
This 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," “project” 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 Contacts
(949) 574-3860
APLD@gateway-grp.com
Media Contact
Brenlyn Motlagh or Diana Jarrah
(949) 899-3135
APLD@gateway-grp.com
Source:
2024 GlobeNewswire, Inc., source