Applied Blockchain Inc (APLD)

[KingsKnight]

S1A v.7
https://fintel.io/doc/sec-applied-blockchain-inc-1144879-s1a-2022-february-28-19051-23

"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 first calendar quarter of 2022. We signed an energy services agreement with a utility to power this facility. The company pays for energy from part of the revenue from customers. Initially, these datacenters will primarily host servers securing the Bitcoin network but can also host hardware for other applications such as artificial intelligence, machine learning and other blockchain networks in the future. We have a colocation business model where our customers place hardware they own into our facilities, and we provide full operational and maintenance services for a fixed fee. We typically enter into long term fixed rate contracts with our customers.

Scaling Hosting Operations: leveraging partnerships to support scalable, low-cost mining solutions to support crypto and blockchain infrastructure.
Mining Cryptoassets: the company currently self-mines Ethereum. Operations will not expand.
Fleet Management: value-add services where from time to time we may facilitate the sale of blockchain mining equipment.

Hosting Operation
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 780MW online in 2022, 2GW by the end of calendar year 2023 and 5GW over the next five years."