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Northern Data, Bitcoin Mining Firm Slams ‘Trolls’ After Stock Drips Over 40%

“Anonymous trolls” Northern Data’s head of finance calls also told about the translucent of the company.

About 40% stack fall was observed by European Bitcoin (BTC) mining firm and amid claims that it committed a crime

At the verge of July 17, data from Bloomberg exhibited the company’s NB2 stock trading at under €47 ($53.70), down from €79 ($90.30) on Monday.

 “We’re as transparent as it gets”, Northern Data

Northern Data, the product of a 2019 joining between U.S. company Whinstone and Northern Bitcoin, asserted to offer High-Performance Computing/Artificial Intelligence (HPC/AI) solutions.

Well known German bank researchers, investors and analysts while touting the scale of its computing capacity one critic, in particular, asserted that in fact, the company was mostly involved in Bitcoin mining hosting.

Maximilian Martin, head of finance stated  “It’s a very unpleasant point in time, ” 

“It gives the anonymous trolls a power of influence. I’m not concerned because I know we’re no criminals — that’s the biggest point of differentiation. We’re as transparent as it gets.”

It summarized:

We are at conclusion over

1) Northern Data clients are paying downward, industry competitive, rates and the company is cooking the books; 

or 

2) The company has found the stupidest clients in the crypto industry and milking the vastly it can for its whopping 40% gross margin.”

The beating is grimly pertinent, coming within weeks of another German scandal involving financial firm Wirecard.

Any funds wrapped to Wirecard, such as those on prepaid debit cards, were unexpectedly frozen, evacuating users without their money. As Cointelegraph documented, Bitcoin debit cards were also dramatic. 

Since its own problems, Northern Data was another example of cryptocurrency business equity largely outperforming crypto-assets themselves — often thanks to roadmaps that comprise plans such as performing an initial public offering, or an IPO.

Other firms such as Canaan (NASDAQ: CAN) have not thrived as well, however, with its stock price down nearly 70% YTD or from around $6 to $1.92 at press time.

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