Babcock & Wilcox, Applied Blockchain Partner To Develop Energy Projects For Cryptocurrency Mining

Babcock & Wilcox Enterprises Inc BW signed a cooperation agreement with Dallas-based Applied Blockchain Inc APLD to develop baseload power clean energy projects in the next three years to support cryptocurrency mining operations. The financial terms were not disclosed.
These projects could result in up to 1.5 gigawatts of electrical generation capacity and will be a platform for using B&W's solutions to support Applied Blockchain's power needs.
B&W's clean energy capabilities include its ClimateBright suite of decarbonization technologies, including BrightLoop, which can use multiple fuels to produce clean hydrogen and waste- and biomass-to-energy technologies and solar installation services.
Price Action: BW shares are trading higher by 3.5% at $8.88 during the premarket session on Thursday. APLD closed 4.35% lower at $3.30 on Wednesday.