Data Center Products -- June 7, 2023

Locator: 44859DCP.

The Next Big Thing. Link here.

The next big thing: page four.

Technically not a "next big thing." Astute investors caught this early on.

I'm not an astute investor. Missed this.

But it was a story out of North Dakota that brought me up to speed.

Ellendale, ND: population -- 1,085 (2021) and shrinking. Let that sink in. 

WHY ELLENDALE?

From the press release:

Applied Blockchain has begun work on a new 180MW cryptomining data center in North Dakota.

The company this week announced the groundbreaking of its 180MW hosting facility in Ellendale, Dickey County, took place at the start of the month.

The Ellendale facility is expected to begin energizing early in the first half of calendar 2023.Applied Blockchain entered into a five-year Energy Service Agreement (ESA) with a utility partner in Dickey County servicing Ellendale on September 1, 2022.

“The community of Ellendale and representatives of North Dakota have been amazing to work with as we bring this next facility to life,” said Applied Blockchain Chairman and CEO Wes Cummins.

“Having the new 180MW facility located close to significant wind power capacity will allow it to be powered with renewable energy to further propel future high performance computing solutions for global enterprises and applications. The entire capacity of this facility is already under contract, demonstrating the significant demand we continue to have for our hosting services.”

And more:

Ellendale is the company’s second data center within North Dakota, following a 100MW facility in Jamestown, North Dakota that opened earlier this year (2022). The company is also developing a 200MW facility in Garden City, Texas. Link here.

Applied Blockchain and Marathon Digital Holdings have mutually executed the option for an additional 70MW of hosting at the Ellendale location. This brings contracted capacity with Marathon to 276MW and total contracted hosting for the company to nearly 500MW.

Earlier this year Applied Blockchain said it planned to change its name to Applied Digital Corporation.