Why did applied blockchain stock rise 27% in pre-market trading?

Applied Blockchain (NASDAQ: APLD) stock soared 27% in pre-market trading today. The rally appears to have been sparked by a deal the company made with Marathon Digital (NASDAQ: MARA) and by the recent increases in the value of cryptocurrencies. Applied Blockchain provides crypto mining and co-hosting services.

What is applied blockchain (APLD)?

Applied Blockchain ( APLD) announced it will provide hosting services for Marathon Digital ( MARA) for five years. Applied Blockchain increased the midpoint of its revenue outlook for its quarter that ended in May. APLD stock and MARA stock are climbing in early trading.

Is block a blockchain stock?

The company also has operations in business lending, a stock trading platform, and buy-now-pay-later financing. The company also operates the Square Online Store platform, which helps merchants build out e-commerce and omnichannel capabilities. Block is a blockchain stock in two main ways.

What is applied blockchain Inc registered SHS's market capitalization?

Applied Blockchain Inc Registered Shs's market capitalization is $747.68 M by 94.47 M shares outstanding. U.S. stock futures traded slightly higher this morning. Here are some big stocks recording losses in today’s pre-market trading session.