EQS-News: Northern Data AG: Financial results for mining business in June 2023
EQS-News: Northern Data AG
/ Key word(s): Monthly Figures
PRESS RELEASE / IR NEWS
All monthly figures are unaudited and may include rounding and billing differences for Bitcoin production. Temperatures in the U.S. reached near-record levels during the month and power demand in Europe was high, leading to higher power prices. The Mining division was therefore curtailed, to reduce the average cost of power, in line with Northern Data’s power strategy, resulting in a lower but more profitable production (per coin). June’s mining rate (when compared month-on-month) was also a result of by BTC transaction fees returning to normal level, (due to ordinals hype in May), alongside a continued increase in the global hash rate (reaching an all-time-high of 390 EH/s). In Europe, Northern Data participates in a grid demand response program (balancing the demand on power grids), which generated approximately EUR 0.5 million of additional income, representing an equivalent value of approx. 20 Bitcoin, based on the average price of Bitcoin during the month. The company had a self-mining hash rate of around 3.77 EH/s and 40,508 ASIC systems installed on the Bitcoin network at the end of June 2023 (on par with the previous month). Northern Data firmly believes that High-Performance Computing (HPC) will — quite literally — determine what the future will hold. HPC has the power to unlock unprecedented potential and opportunities for research and development, business, and government. Our multinational organization is rapidly staking out a position of global significance in the area of GPU- and ASIC-based solutions by designing and operating efficient, sustainable HPC infrastructures. We offer a combination of intelligent data centers, cutting-edge hardware and self-developed software for various HPC applications. These include bitcoin mining, blockchain technology, artificial intelligence, big data analytics, IoT, and graphics rendering. The Northern Data Group currently operates custom, large-scale data centers and proprietary mobile high-performance data centers. Northern Data’s shareholders include among others Apeiron Investment Group, Samara Asset Group (formerly Cryptology Asset Group), Block.one, BlackMars Capital, Krypto Ventures and the founders of the Company, who together represent the majority of the voting rights. Jens-Philipp Briemle
14.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Northern Data AG |
An der Welle 3 | |
60322 Frankfurt/Main | |
Germany | |
Phone: | +49 69 34 87 52 25 |
E-mail: | [email protected] |
Internet: | www.northerndata.de |
ISIN: | DE000A0SMU87 |
WKN: | A0SMU8 |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange |
EQS News ID: | 1680619 |
End of News | EQS News Service |
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1680619 14.07.2023 CET/CEST