Cryptocurrency mining company Applied Digital launches a distressed crypto asset acquisition fund, aiming to raise $100 million

ChainCatcher news, according to Globe Newswire, the Bitcoin mining company Applied Digital has launched an independent fund aimed at acquiring distressed cryptocurrency assets, with targets including mining hardware and digital infrastructure assets. The fund and the acquired assets will be managed by a new entity called Highland Digital, jointly established by it and GMR Limited, with the goal of raising up to $100 million from external investors.

It is reported that Applied Digital does not expect to issue any equity to raise funds for the fund, nor does it intend to directly own any mining hardware. (Source link)