Applied Blockchain Inc (APLD)

[KingsKnight]

Getting Closer to The Uplist...
As per last S1/a "On March 9, 2022 we ceased all crypto mining operations and completed the sale of all crypto mining equipment in service. We have no plans to return to crypto mining operations in the future. We still own some mining equipment. However, the equipment is either not online or was previously purchased but has yet to be delivered. We intend to sell this equipment as soon as possible and have no plans to bring the equipment online or use it for mining purposes."

"Based on our limited current contractual arrangements with customers, energy suppliers and construction companies, assuming the terms of current contracts are the same for all future facilities we build, capital expenditures for our hosting operations would be approximately $350,000 per 1MW, revenues from hosting operations would be approximately $49 million per year per 100MW and direct costs of sales for our hosting operations would be approximately $37 million per year per 100MW. Hosting revenues includes only fees from lease of space and access to electricity and not maintenance or other services provided by us. Direct costs of sales from hosting includes operations, maintenance and power related costs. "

"We have entered into contracts with four customers to utilize our first co-hosting facility which was brought online on February 2, 2022 as to the first 55MW, with the remaining 45MW expected to be brought online during the second calendar quarter of 2022. When our first co-hosting facility is fully online, four customers will account for 100% of the revenue from our first co-hosting facility (100MW). These customers have also contracted for 85MW of power at our second co-hosting facility once completed and operational."
" We are targeting bringing 800MW online by May 2023, 1.8GW by May 2024 and 5GW over the next five years."

Getting an unfortunate sneaky suspicion this may get hammered on NAS, if & when an uplist occurs. Essentially in the S1, it sorta states they'll operate at $12M annual profit per 100MW. They are no longer a miner [sucks, seemed like a nice viable profit space to be in] So is a $12M profitable co worth $1B market cap? Know they wish to scale up to ~800MW by mid '23. Guess many on board are along for a ride, but there an upcoming pivot point here where some thought & decisions have to occur with this listing...we shall see.!! Maybe we get lucky & they value it on Price to Sales/Future Sales, that'll be $50M/yr growing to $400M sales by next year if they truly get 800MW online. GLTA, we shall see what happens.

https://ycharts.com/companies/RIOT/ps_ratio
https://ycharts.com/companies/RIOT/pe_ratio