Applied Blockchain Files for $60M Nasdaq IPO

The enterprise blockchain firm is offering 3.2 million shares at an estimated $18.54 per share.

AccessTimeIconApr 8, 2022 at 2:35 p.m. UTC
Updated May 11, 2023 at 6:01 p.m. UTC

Enterprise blockchain firm Applied Blockchain filed to sell $60 million of shares in an initial public offering (IPO) on the Nasdaq Global Select Market.

  • Applied Blockchain is offering about 3.2 million shares at an estimated mean price of $18.54, according to a filing with the U.S. Securities and Exchange Commission (SEC) Friday.
  • The firm intends to list on the Nasdaq Global Select Market under the ticker "APLD."
  • Applied Blockchain, which builds data centers to host bitcoin mining operations, is currently traded on the OTC Pink, the lowest tier of the OTC Markets exchanges for trading over-the-counter stocks.
  • The company plans to use the money to secure sites for new co-hosting facilities, to develop those facilities and to enter into energy service agreements, among other uses, it said in the filing.
  • The Dallas-based firm built its first center in North Dakota, which was providing 55MW of energy to customers as of early February. In November 2021, it agreed to develop a 200MW wind-powered facility in Texas.
  • Underwriters have been granted a 30-day option to purchase up to an additional 485,436 (15%) of the offered common stock at the public offering price.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.