Services Agreement with GMR, SparkPool, and Valuefinder dated March 19, 2021
Company: Applied Digital
The claim, verbatim
Entered into Services Agreement on March 19, 2021 with GMR Limited, Xsquared Holding Limited (SparkPool), and Valuefinder for cryptoasset mining management and equipment procurement; issued 7.44M shares each to GMR and SparkPool and 3.16M shares to Valuefinder
Source (primary)
Applied Digital 424B4 filed 2022-04-13 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “On March 19, 2021, we entered into the Services Agreement with GMR Limited, a British Virgin Islands limited liability company... Pursuant to the Services Agreement, we engaged the Service Providers to provide cryptoasset mining management and analysis and to secure equipment to be purchased by us as consideration for 7,440,148 shares of common stock to be issued to each of GMR and SparkPool or their designees and 3,156,426 shares of common stock to be issued to Valuefinder”
How we checked this
Checked on September 22, 2026. The cited source supports every part of this claim.
The prospectus states the March 19, 2021 Services Agreement with GMR, Xsquared Holding (SparkPool), and Valuefinder for mining management and equipment procurement, and confirms the 7,440,148 shares each to GMR and SparkPool and 3,156,426 shares to Valuefinder were issued in July 2021.
Confirmed in the source:
- Applied Blockchain entered into the Services Agreement on March 19, 2021 with GMR Limited, Xsquared Holding Limited (SparkPool), and Valuefinder
- The Service Providers were engaged to provide cryptoasset mining management and analysis and to secure equipment
- 7,440,148 shares of common stock were issued to each of GMR and SparkPool
- 3,156,426 shares of common stock were issued to Valuefinder's designee
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000110465922045562/tm2132377-25_424b4.htm) in full (528,650 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B4 filed 2022-04-13
Quote: “On March 19, 2021, we entered into the Services Agreement with GMR Limited, a British Virgin Islands limited liability company... Pursuant to the Services Agreement, we engaged the Service Providers to provide cryptoasset mining management and analysis and to secure equipment to be purchased by us as consideration for 7,440,148 shares of common stock to be issued to each of GMR and SparkPool or their designees and 3,156,426 shares of common stock to be issued to Valuefinder”