Dallas-based Applied Blockchain Inc. is throwing its hat in the cryptocurrency hosting arena after raising $32.5 million through a private stock sale.
The company, which specializes in crypto mining and infrastructure, will use the money to buy land and build and equip the facilities. Once completed, the facilities will house up to 500 megawatts of power.
Blockchain product producer Bitmain, headquartered in Beijing, led the investment and will join SparkPool and GMR as strategic partners for the company. It will help in the operation and development of Applied Blockchain’s businesses and other initiatives.
“This industry is young and evolving rapidly,