Applied Blockchain Inc (NASDAQ:APLD) shares are trading higher Tuesday after the company announced it secured a five-year hosting contract with Marathon Digital Holdings Inc (NASDAQ:MARA).
Applied Blockchain will provide comprehensive hosting services for Marathon’s Bitcoin (CRYPTO: BTC) miners at the company’s co-hosting data centers. The contract covers 200 megawatts of Bitcoin mining capacity.
Applied Blockchain also provided an operational guidance update. The company raised its fourth-quarter revenue expectations from a range of $5.7 million to $6.2 million to a range of $7 million to $7.4 million versus the estimate of $5.68 million.
Applied Blockchain is a builder and operator of next-generation data centers across North America, which provide substantial computing power to blockchain infrastructure and support Bitcoin mining.
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APLD Price Action: Applied Blockchain has traded between $5.70 and 85 cents over a 52-week period.
The stock was up 49.1% at $1.57 at press time, according to data from Benzinga Pro.
Photo: Ricardo Goncalves from Pixabay.
