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Applied Digital Corporation reported financial results for the fiscal first quarter ended August 31, 2023, showing total revenue of $36.3 million and a net loss of $9.6 million. The company also provided forward guidance and an operational update, including the energizing of a 180 MW hosting facility in Ellendale, ND. Applied Digital is finalizing details for its Garden City facility and has a clear path to reaching 500 MW across its three hosting facilities. The company is also making progress in its Cloud services and GPU deployments for customers.
