Diligence memo · auto-generated · as of July 2, 2026
Applied Blockchain, Inc.
Applied Blockchain, Inc. has raised $211M over 6 rounds; too few niche peers to rank its valuation yet.
Businessfiled
Applied Blockchain, Inc. operates in Crypto / Web3, based in DALLAS.
Sub-sector tags: crypto/web3.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Applied Blockchain, Inc. has raised $211M in disclosed capital across 6 recorded rounds, aggregated from public filings. Its latest round is modeled as Series D+ (a $100M–$400M round).
Largest single filing: $160M on 2024-09-05.
Most recent recorded round closed around 2024-09-05.
Valuation (modeled)modeled
Provath models Applied Blockchain, Inc. at approximately $1.6B (range $743M–$2.2B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Historic cadence: a new round about every 31 months.
Last raise 22 mo ago; this sector typically re-raises about every 7 months.
Past due for a raise versus sector cadence — watch for distress or a bridge.
The last round stepped up 4.9× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 96% of Crypto / Web3 peers (196 compared).
Modeled value ranks above 95% of those peers.
Closest niche peers: Blockdaemon Inc., Dapper Labs Inc..
Peoplefiled
20 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.