Bitcoin Mining Hosting Company Applied Digital to Raise $150 Million Through Convertible Preferred Stock Offering

According to a report by Jinse Finance, Bitcoin mining hosting and cloud service company Applied Digital announced that it will raise $150 million through a private placement of convertible preferred stock. The par value and purchase price of this convertible preferred stock is $1,000 per share, and it does not carry preferential earnings or dividends. The new funds will be used to advance the construction of its second data center. It is reported that Applied Digital does not directly participate in Bitcoin mining but provides data center hosting services for other mining companies.