Northern Data AG Sees Substantial Demand for Its Bitcoin Mining Services

FRANKFURT AM MAIN, Germany–(BUSINESS WIRE)–Northern Knowledge AG (XETRA: NB2, ISIN: DE000A0SMU87) is at present seeing a considerable improve in demand for its bitcoin mining infrastructure companies.

Bitcoin mining is an important high-performance computing (HPC) software up to now. Consequently, with its international infrastructure options within the discipline of HPC, Northern Knowledge serves many shoppers within the discipline of bitcoin mining, together with a number of multibillion-dollar listed firms.

With the rise of Bitcoin as a vital asset class and the related want for computing capability for bitcoin mining, Northern Knowledge advantages in two methods: First, the Firm experiences a pointy improve in buyer demand. Second, Northern Knowledge has performance-linked remuneration in place with a few of its purchasers, such that Northern Knowledge is now instantly making the most of the rise within the bitcoin value.

Along with the present facility in Texas, the capacities within the Lefdal mine in Norway, which launched in Might 2018, are additionally about to be additional expanded. And in Scandinavia alone, 5 new places for high-performance computing and bitcoin mining are anticipated to start operations over the approaching months. Moreover, a number of places in North America, particularly Canada, are in ultimate levels of negotiation.

Along with the additional growth of its bitcoin mining actions, the Firm can also be increasing into different purposes of high-performance computing. The Firm’s GPU-based distributed computing cluster started working earlier in December.

This GPU cluster will probably be scaled to computing energy of 404 petaflops (FP64) by the top of Q1/2021, nicely forward of the at present second quickest supercomputer on the earth, the US “Summit”, which has a computing energy of 148.8 petaflops. Solely the Japanese supercomputer Fugaku will probably be forward of Northern Knowledge’s GPU cluster, at 537 petaflops.

CEO Aroosh Thillainathan feedback: “With greater than seven years of expertise in bitcoin mining and modern options for each cellular items and large-scale services, Northern Knowledge has a technological edge over the competitors like no different firm available in the market. That is the idea of our success. Along with the fundamental remuneration mannequin, our performance-driven revenues, with which we take part in a rising bitcoin value, give us extra upside that we’ve got not but taken into consideration in our steerage.”

Earlier this week Northern Knowledge launched its steerage for the monetary yr 2021. The Firm expects gross sales of EUR 350 million to EUR 400 million and EBITDA of EUR 100 million to EUR 125 million in 2021, based mostly on contracts which have already been executed or are within the strategy of being concluded and with out contemplating any extra upside from performance-linked revenues and earnings.

About Northern Knowledge:

Northern Knowledge AG develops and operates international infrastructure options within the discipline of high-performance computing (HPC). With its customer-specific options, the corporate gives the infrastructure for varied HPC purposes in areas similar to bitcoin mining, synthetic intelligence, blockchain, massive information analytics, IoT or rendering. The internationally energetic firm is right now a number one supplier of HPC options worldwide. Northern Knowledge affords its HPC options each in giant, stationary information facilities and in cellular high-tech information facilities that may be arrange at any location worldwide. The corporate combines its self-developed software program and {hardware} with a sustainable vitality provide. The Northern Knowledge group at present employs about 150 members of workers.

Disclaimer:

This press launch doesn’t represent a suggestion to promote or a solicitation of a suggestion to buy or subscribe for any securities of Northern Knowledge AG, nor does it represent a securities prospectus of Northern Knowledge AG. The data contained on this press launch will not be supposed to function a foundation for monetary, authorized, tax or different enterprise selections. Funding or different selections shouldn’t be based mostly solely on this press launch. As with all enterprise and funding issues, please seek the advice of certified skilled recommendation.