B&W, Applied Blockchain to explore clean energy options in crypto mining

Ohio-based energy and environmental products provider Babcock & Wilcox (NYSE:BW), or B&W, and Applied Blockchain Inc (PINK:APLD) will jointly explore clean energy and baseload power opportunities in the cryptocurrency mining sector.

The two companies have signed a cooperation deal that could lead to the addition of up to 1.5 GW of electrical generation capacity, B&W said in a statement on Thursday, adding that the partnership could benefit from its renewable waste-to-energy, carbon capture and hydrogen production, solar generation and long-duration energy storage offerings. The agreement envisages cooperation in North America over a period of three years.

“The global demand for cryptocurrency mining has been growing substantially and we’re excited to play a key role in helping our partner, Applied Blockchain, develop the infrastructure necessary to power this technological revolution in a sustainable and economic way,” said B&W Vice President, Corporate Development & Investor Relations, Megan Wilson.

Dallas-based Applied Blockchain provides crypto mining, hosting, and pooling solutions to customers around the world.

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