Northern Data profits from bitcoin boom through mining
High-performance computing company Northern Data AG announced in a press release that it plans to further develop existing computing sites and establish new offices.
According to a press release issued on 18 December, the German HPC company plans to invest in new computing power centres and further develop existing ones. Currently, the company is building a huge data centre in Texas and also plans to invest in its site in Norway, which has been in operation since 2018. The Frankfurt-based computing Bitcoin Investor review service provider offers its customers infrastructural solutions for various HPC applications, including bitcoin mining, blockchain and artificial intelligence. With the rise of bitcoin, Northern Data is even benefiting twice over in the form of base compensation and, in some cases, „performance-based compensation components“. In July, the company saw its share price plummet after an alleged smear campaign harshly criticised the company’s business model.
Northern Data plans new supercompute
In addition to expanding and developing new branches, Northern Data is also working on a new supercomputer, which is scheduled to go into operation at the end of the first quarter. According to the company, the computing power of the planned high-performance computer will be up to 404 petaflops. This would make the computer the second fastest in the world. Only the Japanese top dog Fugaku (537 petaflops) is beaten by the Northern Data computer.
Experience in bitcoin mining as the basis for success
CEO Aroosh Thillainathan comments on his company’s current situation as follows:
With more than seven years of experience in Bitcoin mining and innovative solutions […] Northern Data has a technological edge over the competition like no other company on the market. This is the basis of our success.
With the current developments and plans, Northern Data expects sales revenues of between 350 and 400 million euros for 2021. The company expects EBITA of between 100 and 125 million euros.