Former miner partners with India’s GMR conglomerate to purchase hardware at distressed prices.
The latest filing also showed that Applied’s Texas subsidiary, Rattlesnake Den, took out a $15 million loan this month for construction at its data center in Garden City, Texas. Around $4.6 million has already been advanced. Interest on the unpaid principal is 6.15% and the loan matures in April 2028, but the company can prepay all or part of the obligation without any fees.
Applied also took out a $15 million loan in July from Starion Bank to finance an expansion of its operation in Ellendale. That loan has an interest rate of 6.50% and matures in July 2027.
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