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Benzinga
Benzinga
Business
Akanksha Bakshi

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

  • Babcock & Wilcox Enterprises Inc (NYSE:BW) signed a cooperation agreement with Dallas-based Applied Blockchain Inc (OTC: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.
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