TechFlow news, on February 13, according to TheMinerMag, bitcoin mining hosting company Applied Digital has reached a $375 million loan agreement with Japanese financial institution SMBC to repay existing debts and fund the expansion of its high-performance computing (HPC) campus in Ellendale, North Dakota.
The company stated that part of the loan has already been used to repay senior secured notes held by Macquarie Capital. The remaining funds will be allocated toward constructing the first two buildings of the Ellendale HPC campus, a project designed to serve hyperscale customers requiring advanced computing resources. Notably, Applied Digital currently provides mining hosting services to bitcoin mining company MARA at its Ellendale facility.
