Northern Data AG shared that it's in the process of relocating its ASIC machines to “energy price optimized locations”, to ensure production stability and optimal capacity utilization.
Northern Data AG, a German company that specializes in Bitcoin mining and cloud computing, released its December 2022 results for its mining division.a total of 2,798 BTC, a significant increase of 315% compared to the previous year. This led to BTC mining revenues of EUR 77.7 million in the fiscal year 2022. The average sale price of the 3,005 BTC mined and sold in 2022 was EUR 23,849, contributing to a cash revenue of EUR 71.7 million.
The data released by Northern Data also indicated that it had approximately 3.6 EH/s of computing power dedicated to BTC mining. Additionally, the company said it “expects unaudited consolidated revenues in the range of EUR 190-194 million and EBITDA adjusted for the trading loss from the sale of cryptocurrencies of EUR 40-50 million for fiscal 2022.”However, December 2022 was a challenging month for Northern Data.
Despite the challenges, the firm is in the process of relocating its ASIC machines to “energy price optimized locations”, to ensure production stability and optimal capacity utilization, to reach its targeted production of 350 BTC per month.
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