Bitmain strategic equity investment and equipment supply
Company: Applied Digital
What the later record shows
Outcome not yet confirmed · happened March 9, 2022
No passage reports delivery of the 200PH Bitmain order. The company exited crypto mining on March 9, 2022 and planned to sell undelivered purchased equipment. Bitmain later became a co-hosting customer, not an equipment supplier for the company's own mining.
“as evidenced by our order through Bitmain for 200PH of mining equipment due late in calendar year 2021”
2022-02-27 · Applied Digital S-1/A filed 2022-02-28 View cached copy (2026-09-13)Live source ↗
“GMR, SparkPool and Bitmain have since become customers of our co-hosting mining operations.”
2022-03-20 · Applied Digital S-1/A filed 2022-03-21 View cached copy (2026-09-13)Live source ↗
“However, the equipment is either not online or was previously purchased but has yet to be delivered. We intend to sell this equipment as soon as possible”
2022-04-11 · Applied Digital S-1/A filed 2022-04-12 View cached copy (2026-09-13)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Bitmain is strategic equity investor; provides preferred access to Bitcoin mining equipment and hosting customer leads; order placed for 200 PH of mining equipment due late 2021
Source (primary)
Applied Digital S-1 filed 2021-11-22 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “SparkPool, GMR, and Bitmain are each strategic equity investors in our company. Bitmain, our newest partner, provides us with preferred access to Bitcoin mining equipment as well as leads for potential hosting customers... our order through Bitmain for 200PH of mining equipment due late in calendar year 2021.”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The filing states each part of this claim, though in separate sentences rather than in the single passage quoted: Bitmain is a strategic equity investor, it provides preferred equipment access and hosting leads, and a 200PH order through Bitmain was due late in 2021.
Confirmed in the source:
- Bitmain is a strategic equity investor in Applied Blockchain
- Bitmain provides Applied Blockchain with preferred access to Bitcoin mining equipment
- Bitmain provides Applied Blockchain with leads for potential hosting customers
- Applied Blockchain placed an order through Bitmain for 200PH of mining equipment due late in calendar year 2021
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000110465921142627/tm2132377-8_s1.htm) in full (515,456 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital S-1 filed 2021-11-22
Quote: “SparkPool, GMR, and Bitmain are each strategic equity investors in our company. Bitmain, our newest partner, provides us with preferred access to Bitcoin mining equipment as well as leads for potential hosting customers... our order through Bitmain for 200PH of mining equipment due late in calendar year 2021.”