FX.co ★ Applied Digital To Sell Texas Campus For $87.3 Mln To Marathon Digital

Applied Digital Corp., popularly known as APLD, recently announced they have entered into an agreement to sell their 200-megawatt campus located in Garden City, Texas. The purchaser, Marathon Digital Holdings, agreed to the net purchase price of approximately $87.3 million.

The agreement also includes the release of $12 million in restricted cash that was formerly held as collateral. This deal is still subject to standard closing conditions. However, both parties expect to conclude the transaction in the second quarter of 2024.