Applied Digital, a blockchain and AI infrastructure provider, has opened a new 200-megawatt data center in Garden City, Texas. This marks the company’s third blockchain hosting facility in North America. The facility supports 7-8.5 EH and is focused on hosting other companies’ Bitcoin mining rigs. Applied Digital earned $22 million in revenue from this business in the quarter ending in May 2023. However, the company is shifting its focus towards high-performance computing (HPC) to support the AI industry. The stock price of Applied Digital fell 5.3% on Friday.

AI Sentiment: Neutral