Applied Blockchain, Inc. is engaged in crypto mining and co-hosting operations. The company is headquartered in Dallas, Texas.
| Revenue (TTM) | $611.31M |
| Gross Profit (TTM) | $158.20M |
| EBITDA | $-107.03M |
| Operating Margin | -48.20% |
| Return on Equity | -8.38% |
| Return on Assets | -1.85% |
| Revenue/Share (TTM) | $2.22 |
| Book Value | $5.97 |
| Price-to-Book | 4.51 |
| Price-to-Sales (TTM) | 12.58 |
| EV/Revenue | 18.4 |
| EV/EBITDA | -7.43 |
| Quarterly Earnings Growth (YoY) | 0.00% |
| Quarterly Revenue Growth (YoY) | 406.60% |
| Shares Outstanding | $284.30M |
| Float | $250.68M |
| % Insiders | 9.86% |
| % Institutions | 76.11% |
Volatility is currently expanding
The AI infrastructure trade is moving higher as investors focus on long-term power access and contracted revenue, with Cipher Digital leading a group that includes TeraWulf and Applied Digital.
UBS has initiated coverage on five AI data center colocation stocks with Buy ratings, citing constrained compute supply and favorable power access positioning the group for rapid growth as AI adoption accelerates. The bank started coverage of Hut 8 Mining Corp (TSX:HUT, Unlisted (US):HUTMF), TeraWulf (NASDAQ:WULF), Applied Digital (NASDAQ:APLD), Core Scientific (NASDAQ:CORZ) and Cipher Digital (NASDAQ:CIFR), pointing to their cryptomining legacies and grid access as key advantages.
TTM Technologies benefits from AI data-center demand, N+M growth, strong earnings momentum and valuation, unlike Applied Digital's capital-heavy model.
I reiterate Applied Digital Corporation with a Strong Buy and a revised of $70. APLD now boasts 1,410MW of contracted IT load across five campuses, equating to $36 billion in initial 15-year lease revenue. Q4 2026 results confirmed APLD's ability to convert AI data center leases into EBITDA, with $42.4 million adjusted EBITDA and $12.9 million adjusted net income.
Shares of Applied Digital (NASDAQ:APLD) and TeraWulf (NASDAQ:WULF) are rebounding Thursday morning as the oversold AI capacity trade catches a bid, with the sector fund and the broad tape also higher. Applied Digital stock is up 5% to $25.
Applied Digital's slide Tuesday afternoon matters most for what it does to the year. Applied Digital (NASDAQ:APLD) stock is down 4% to $23.72, pushing the year-to-date figure to a decline of 3%.
TeraWulf (NASDAQ:WULF) stock is declining 5% to $14.71 in Tuesday morning trading, extending a slide that has taken the shares down 15% over the past month.
Amazon Web Services revenue rose 37% year over year in the second quarter, the segment's fastest growth in 18 quarters. Taiwan Semiconductor's August revenue set a monthly record, up 53% year over year.
Jim Cramer praised one AI-adjacent name, dismissed a housing supplier on instinct, and rejected a data-center story on principle, but his cash-first filter may be the wrong tool for at least one of those calls.
Shares of TeraWulf (NASDAQ:WULF) are up 7% to $17.33 in Friday midday trading, leading a broad rebound across the Bitcoin (CRYPTO:BTC) miner complex after a soft prior session. Also higher, Applied Digital (NASDAQ:APLD) stock is climbing 4% to $26.74.
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