GlobeNewswire Inc | Nov 24, 2021 12:41PM EST

November 24, 2021

DALLAS, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Applied Blockchain, Inc. ("Applied Blockchain" or the "Company") (PINK: APLD) today announced that it has signed a letter of intent to develop a 200-Megawatt (MW) hosting data center in West Texas. The development agreement is subject to negotiation of final documentation.

The data center will be co-located with a wind farm and will serve as the Company's second facility. The next-gen data center is expected to come online in the second quarter of 2022.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Applied Blockchain

Applied Blockchain, Inc. (PINK: APLD) is a leading provider in the growth and development of Blockchain Infrastructure by delivering high-performance crypto mining, hosting, and pooling solutions to customers around the globe. The Company has partnered with the most recognized names in the industry to develop, deploy, and scale its business. The Company is backed by some of the largest family offices and institutional investors in the U.S. Find more information at www.appliedblockchaininc.com.

Media ContactsJordan SchmidtGateway Group, Inc. (949) 574-3860APLD@gatewayir.com

Investor Relations ContactsMatt Glover or Jeff Grampp, CFAGateway Group, Inc. (949) 574-3860APLD@gatewayir.com

Company ContactWes Cummins, Chief Executive OfficerApplied Blockchain, Inc. (214) 427-1704