According to ChainCatcher, according to Globe Newswire, Bitcoin mining company Applied Digital has launched an independent fund aimed at acquiring distressed cryptocurrency assets, including mining hardware and digital infrastructure assets. The fund and acquired assets will be managed by Highland Digital, a new entity 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)