Shares of Applied Digital Corporation (APLD), a Texas bitcoin mining and data center firm, surged 12% on Friday, as the firm announced its third deal in the field of artificial intelligence (AI).
Applied Digital has so far announced two hosting deals for AI loads that could bring in as much as $640 million in revenues over the next 36 months.
Bitcoin miners are increasingly looking into AI to shore up their revenues, which have been hurt by a slump in bitcoin prices and increased network difficulty. Earlier today, Canada's HIve Blockchain (HIVE) detailed a strategy to train enterprise large language models with its GPU fleet.
Read more: Bitcoin Miner Iris Energy Revives High-Performance Computing Strategy Amid Booming Interest in AI
"This partnership comes at a pivotal time for our company as we continue to expand our current capacity pipeline of up to 200MW [megawatts] for our HPC data centers," said Applied Digital CEO Wes Cummins in the press release.
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Applied Digital has developed a 9 MW facility in Jamestown, N.D., custom-built for GPUs. It to increase its capacity for high-performance computing hosting to 200 MW.
On June 20, HPE announced its supercomputing-as-a-service offering, which allows customers to access supercomputing on the cloud, without building the infrastructure, to train and operate large language models. It is one of the last companies standing in the supercomputing arena according to industry publication HPC Wire, along with tech giants like Google, IBM (IBM), Intel (INTC) and Nvidia (NVDA).
Edited by James Rubin.