Applied digital announces agreement to sell garden city campus to marathon digital holdings

• divestiture reflects strategy to focus on strategic hpc sites in north dakota • redirects resources and strengthens balance sheet dallas, march 15, 2024 (globe newswire) -- applied digital corporation (nasdaq: apld) ("applied digital" or the "company"), a designer, builder, and operator of next-generation digital infrastructure designed for high-performance computing (“hpc”) applications, today announced that it has entered into a definitive agreement to sell its 200 megawatt ("mw") campus in garden city, tx to marathon digital holdings (nasdaq: mara) (“marathon”) for a net purchase price of approximately $87.3 million, with a gross purchase price of $97.3 million after adjustments contemplated in the purchase agreement. in addition to the purchase price, this transaction will release $12 million of restricted cash previously committed as collateral for the site's letter of credit.
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