Why Bitcoin- And Ethereum-Related Stock Applied Blockchain Is Surging After Hours

Applied Blockchain Inc APLD shares are trading higher in Monday's after-hours session after the company announced it secured a five-year hosting contract with Marathon Digital Holdings Inc MARA. The company also updated its outlook.

Applied Blockchain will provide comprehensive hosting services for Marathon's Bitcoin miners at the company's co-hosting datacenters. The contract covers 200 megawatts of Bitcoin BTC/USD mining capacity. 

Applied Blockchain also provided an operational guidance update. The company raised its fourth-quarter revenue expectations from a range of $5.7 million to $6.2 million to a range of $7 million to $7.4 million versus the estimate of $5.68 million. 

Applied Blockchain is a builder and operator of next-generation data centers across North America, which provide substantial computing power to blockchain infrastructure and support Bitcoin mining.

APLD Price Action: Applied Blockchain has traded between $5.70 and 85 cents over a 52-week period.

The stock was up 28.3% in after hours at $1.36 at press time, according to data from Benzinga Pro.

Photo: Eivind Pedersen from Pixabay.

APLD Logo
APLDApplied Digital Corp
$5.281.34%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
89.70
Growth
98.01
Quality
-
Value
60.90
Price Trend
Short
Medium
Long
Market News and Data brought to you by Benzinga APIs

Posted In:
Comments
Loading...