Bitcoin News

Bitcoin Miner Northern Data says production Increased by 315% Y/Y in 2022

Northern Data AG reported that it generated a total of 2,798 BTC in fiscal year 2022.

Northern Data AG, a German firm that specialises in Bitcoin mining and cloud computing, has announced its mining division’s earnings statistics.

Northern Data AG reported that it mined 2,798 Bitcoin in fiscal 2022, up 315% from the previous year. In fiscal 2022, this resulted in BTC mining income of 77.7 million euros. In 2022, the corporation sold 3,005 BTC for an average price of 23,849 euros, resulting in a cash revenue of 71.7 million euros.

Northern Statistics’s data also revealed that it has 3.6 exahash a second (EH/s) of CPU power dedicated to BTC mining. Additionally, the company said it expects unaudited consolidated revenues in the range of 190 million to 194 million euros, with earnings before interest, taxes, depreciation and amortisation (EBITDA) “adjusted for the trading loss from the sale of cryptocurrencies” of 40 million to 50 million euros.

Northern Data, on the other hand, had a difficult month in December. The company mined 177 Bitcoin, a 15% decrease from November and a 25% decrease from December 2021. Due to high energy expenses, notably in Europe, the deployed ASIC machines in Europe had predetermined amounts of “downtime” where they were unable to output continually.

The company stated that it is transferring its ASIC machines to “energy price optimum locations” to maintain production consistency and optimal capacity utilisation in order to meet its monthly output objective of 350 BTC.

Marathon Digital Holdings, one of the major Bitcoin mining operations in North America, has been experimenting with overclocking to strengthen its competitive advantage in the BTC mining business, according to Cointelegraph.

Marathon Digital Holdings reported 475 BTC produced in December, increasing its total mined Bitcoin in fiscal 2022 to 4,144 BTC, a 30% increase from the 3,197 BTC produced in fiscal 2021.

Some Bitcoin mining companies have recently faced difficulties as a result of the increased difficulty of mining and the rising cost of electricity. This has reduced mining profitability and forced several miners to close their doors. Others have experienced considerable revenue growth and mining power gains as a result of improved mining hardware and mining software optimization.


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