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Applied Digital secured $1.59 billion in new capital, a financing round large enough to draw attention across the crypto infrastructure space.
The same news cycle brought two additional pressure points for markets tracking $BTC exposure: an Illinois proposal to tax Bitcoin transactions, and mounting questions about the stability of bonds issued by software-as-a-service companies.
Applied Digital's $1.59B Capital Raise Applied Digital, which operates data centers catering to high-performance computing and crypto workloads, closed the raise at $1.59 billion.
The size of the round signals continued appetite from institutional capital for infrastructure adjacent to digital assets, even as the broader regulatory environment grows more complicated.
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