Bitcoin miner Northern Data eyes $16B IPO for US cloud and mining units

Northern Data is considering listing its cloud computing and data center business under two separate entities on the Nasdaq in the first half of 2025.

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Tether Assists US Government in Seizing $1.4 Million From Unhosted Wallet

Tether, the company behind the issuance of USDT, the largest stablecoin in the cryptocurrency market, announced that it helped the U.S. government to seize $1.4 million linked to an alleged fraud scheme. According to the Northern District of Illinois U.S. Attorney’s Office, the seizure marks one of the first times that the U.S. has recovered [...]

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BTC Miner Northern Data Increases its Crypto Production by 315% in 2022

<p> Northern Data (XETR:NB2), a publicly-listed provider of High-Performance Computing (HPC) solutions from Germany, has published its mining division <a href="https://www.financemagnates.com/terms/b/bitcoin/" target="_blank" id="261088a9-0f41-4202-a73c-31f75ba6bd93_1" class="terms__main-term">Bitcoin</a> (BTC) production numbers for December and 2022. Additionally, the company forecasted an annual revenue in the range of EUR 190-194 million.</p><p class="MsoNormal">Northern Data Boosts Bitcoin Production</p><p class="MsoNormal">Although December was one of the worst months for Nothern Data mining operations, with only 177 produced BTC, 2022 brought a record-breaking number of 2,798 mined tokens, translating to a 315% increase year over year (YoY). </p><p class="MsoNormal">According to the press release published on Wednesday, revenue from BTC mining operations came in at EUR 77.7 million. The publicly-listed company expects adjusted EBITDA in the range of EUR 40-50 and fiscal year 2022 <a href="https://www.financemagnates.com/cryptocurrency/btc-miner-northern-data-forecasts-204m-in-revenue-despite-industry-crisis/" target="_blank" rel="follow">revenue around EUR 190-194 million</a>. </p><p class="MsoNormal">"Bitcoin mining in 2022 was challenged by a sharp drop in Bitcoin prices, especially in the middle of the year (Jan 1-Dec 31: -58%). In addition, extreme increases in energy prices as well as in the hashrate (Jan 1-Dec 31: +164%) caused further downward pressure. Northern Data nevertheless managed to grow its Bitcoin mining business in this challenging environment and consistently operates profitably due to its efficient mining practices and favorably structured power contracts," the company commented in a written statement.</p><p class="MsoNormal">Time to Move BTC Mining Rigs</p><p class="MsoNormal">Like many other companies in the mining industry, December proved to be one of the worse months for Norther Data. HPC provider explains the drop in output was caused by high energy prices in Europe, which affected ASIC machines' downtime.</p><p class="MsoNormal">As a result, the company is currently working to relocate its specialized mining rigs to jurisdictions where energy prices are more favorable. It should guarantee better use of production capacity and allow the company to produce up to 350 BTC per month.</p><p class="MsoNormal">"We have prioritized stabilizing our cash reserves by shifting investments. With these measures, we have started 2023 securely and free of any financial debt. Simultaneously we have cut costs, ensuring stable operations even if the Bitcoin price continues to fall. We are watching the market very closely, in anticipation of taking advantage of the opportunities that every crisis brings," Aroosh Thillainathan, the CEO and Founder of Northern Data, said.</p><p class="MsoNormal">By comparison, Northern Data produced 324 BTC in April, its best month in 2022. In other months during 2022, the company failed to break through the 300 BTC mark.</p><p class="MsoNormal">Slow December, but Good 2022 for BTC Miners</p><p class="MsoNormal">Although December's high energy prices and harsh winter caused a slowdown in production, BTC miners had no reason to complain throughout 2022. At least when it comes to the number of <a href="https://www.financemagnates.com/terms/c/cryptocurrencies/" target="_blank" id="b091101e-6e02-4b36-aa0e-7c972dfdd6ed_1" class="terms__secondary-term">cryptocurrencies</a> produced.</p><p class="MsoNormal">Earlier this week, Argo Blockchain (NASDAQ:ARBK), another publicly-listed crypto mining company, <a href="https://www.financemagnates.com/cryptocurrency/argo-blockchain-reports-35-lower-bitcoin-production-in-december/" target="_blank" rel="follow">published its December 2022 operational update</a>, showing a significantly lower BTC production amidst the mining operations halt at the Helios facility in Dickens County, Texas. However, the overall 2022 numbers exceeded the output from 2021.</p><p class="MsoNormal">HIVE Blockchain Technologies <a href="https://www.financemagnates.com/cryptocurrency/hive-blockchain-increases-its-bitcoin-production-mines-4752-btc-in-2022/" target="_blank" rel="follow">showed an increase in BTC production</a> of 18% to 4,752 BTC in the last year, while Bitfarms <a href="https://www.financemagnates.com/cryptocurrency/bitfarms-ends-2022-with-50-increase-in-btc-mining/" target="_blank" rel="follow">acquired 5,167 BTC</a>, growing 49,6% YoY. Although the production numbers are higher, revenues are falling drastically. As <a href="https://www.financemagnates.com/cryptocurrency/why-bitcoin-miners-made-6-billion-less-in-2022/" target="_blank" rel="follow">reported </a>by Finance Magnates Intelligence, crypto miners' profits in 2022 were $6 billion lower than in record-breaking 2021.</p> This article was written by Damian Chmiel at www.financemagnates.com.

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German Bitcoin Miner Expects Revenue Of $205M For 2022 – Despite Volatile Markets

Northern Data, a German Bitcoin mining company’s CEO, Aroosh Thillainathan, shared a letter to shareholders on December 21st that included a positive and strategic update on the company as 2022 approaches to end. The CEO stated that the company anticipates revenue of €190-194 million ($201.4 million to $205.64 million) for the year 2022. He explained that […]

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Most Bitcoin Mining Firms Towards Bankruptcy in 2022!

The year 2022 couldn’t be denied that it has indeed been tough. Though the end for the year is near,

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Bitcoin miner Northern Data says it has no financial debt, expects €192M in revenue for 2022

At the midpoint, the guidance represents a growth of 1.1% from revenues in 2021.

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Australia’s Northern Territory mulls landmark crypto gambling regulation

“It's clear from the draft framework that what they're looking at is wagering using cryptocurrency,” said Julian Hoskins, the principle of gambling law and regulatory advisory firm Senet.

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Northern Data’s Bitcoin Mining Fleet Adds 21,000 ASIC Rigs, Firm Holds $168M in Crypto Assets – Mining Bitcoin News

On April 4, the bitcoin mining operation Northern Data published its financial statements and noted that the company’s mining fleet had grown by approximately 21,000 machines by the end of March 2022. The newly added machines increased the company’s hashrate from 2 exahash per second in February to 3.95 EH/s by the end of March. […]

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Northern Data wants to sell Peak Mining to invest in AI expansion

The Tether-backed company is talking to interested parties, it said. It may also see an IPO on the Nasdaq next year.

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