Business Wire

Northern Data: Existing Bitcoin Mining Customer Expands Contract Volume by More Than 200 MW

Share

Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), a leading provider of high-performance computing (HPC) solutions, can announce the extension of a customer contract of a volume of ASIC chips worth USD 100 million. The existing customer, from the bitcoin mining sector, is making use of an extension option, which it drew at the end of the year. The USD 100 million order volume of ASIC chips corresponds to an additional capacity of more than 200 MW, which will be allocated to Northern Data's up-to-five new Scandinavian and Canadian data center locations, among others. The expansion of these new HPC data centers is being accelerated due to the massive growth in customer demand.

In addition to the expanded order volume, Northern Data also benefits from a performance-based remuneration component with this customer on top of the basic fee, meaning that Northern Data participates in the positive development of the bitcoin price. This additional revenue driver is not included in the Company's forecast for 2021 and therefore represents additional significant upside potential. As recently as mid-December, the Company forecast revenues of EUR 350 million to EUR 400 million with EBITDA of EUR 100 million to EUR 125 million for the 2021 financial year, which has just begun.

The need for bitcoin mining infrastructure is growing rapidly, especially due to the fast-developing acceptance of bitcoin as a new asset class. With around eight years of experience in the field of infrastructure for HPC applications such as bitcoin mining, Northern Data's offering is built upon many proprietary technologies. These include an innovative air-cooling system developed in-house, as well as artificial intelligence for controlling and optimizing the operation of the HPC hardware. These solutions enable Northern Data to deliver capacity to customers in record time.

CEO Aroosh Thillainathan comments, "The upsizing of this customer order is a great testament to our technology-leading solutions for bitcoin mining infrastructure. With this customer, we will directly participate in the rising bitcoin price and thus have an additional upside that we had not previously factored into our forecast for 2021. But bitcoin mining is only one of the many growth drivers in our business: In addition to the accelerated expansion of our bitcoin mining activities, we are also benefiting from rapidly developing customer demand in other application areas of high-performance computing. Just in early December, we started commissioning our GPU cluster, which will allow us to benefit from the exploding demand for HPC services for artificial intelligence, deep learning, research and rendering."

About Northern Data

Northern Data AG develops and operates global infrastructure solutions in the field of high-performance computing (HPC). With its customized solutions, the company provides the HPC applications in areas such as bitcoin mining, artificial intelligence, blockchain, Big Data analytics, IoT and rendering. The international company is now a leading provider of HPC solutions worldwide. Northern Data offers its HPC solutions both in large, stationary data centers and in mobile high-tech data centers that can be set up at any location worldwide. The company combines self-developed software and hardware with intelligent concepts for a sustainable energy supply. The Northern Data Group currently employs around 150 people.

Disclaimer

This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for securities of Northern Data AG, nor does it constitute a securities prospectus of Northern Data AG. The information contained in this press release is not intended to be the basis for any financial, legal, tax or other business decision. Investment or other decisions should not be made solely on the basis of this press release. As in all business and investment matters, please consult qualified professional advice.

Language:

English

Company:

Northern Data AG

Thurn-und-Taxis-Platz 6

60313 Frankfurt/Main

Germany

Phone:

+49 69 34 87 52 25

E-mail:

info@northerndata.de

Internet:

www.northerndata.de

ISIN:

DE000A0SMU87

WKN:

A0SMU8

Listed:

Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange

Contact information

Press contact
Northern Data AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
Thurn-und-Taxis-Platz 6
60313 Frankfurt
E-Mail: h.duerr@northerndata.de
Telefon: +49 69 348 752 89

Investor Relations
Sven Pauly
E-Mail: ir@northerndata.de
Telephone: +49 89 125 09 03 30

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Credence MedSystems Receives a Strategic Investment From One of the World’s Leading Pharmaceutical Companies26.1.2021 07:07:00 CETPress release

Credence MedSystems announced today that Novartis has made a strategic investment in the Company. The investment will advance ongoing development and scaling of Credence’s innovative drug delivery systems, with an initial focus on the Credence Companion® Safety Syringe System. With the investment in Credence, Novartis seeks to support its patients, caregivers, and healthcare professionals by enhancing the safety and user experience during administration of Novartis injectable medications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005138/en/ The Credence Companion allows pharmaceutical manufacturers to provide critical usability and safety features to their end-users. At the completion of the injection, the user receives end-of-dose cues indicating that the full dose has been delivered, and the needle automatically retracts into the syringe barrel. The enhanced usability can contribute to improved adherence, while

AGCO Announces Organizational Update25.1.2021 22:31:00 CETPress release

AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and solutions, today announced intended changes and recent additions to its senior leadership team to further increase customer focus and strengthen investment in precision agriculture and digital solutions to maximize stakeholder value. Robert Crain will be the Senior Vice President leading the newly formed Customer Experience team charged with delivering the best end-to-end customer experience in the industry. Seth Crawford has joined the senior team in the new role of Senior Vice President, Precision Ag and Digital to reinforce AGCO’s commitment to delivering industry-leading, smart farming solutions. Following a successful, 22-year tenure at Deere & Company, Mr. Crawford joined AGCO in 2019 to lead its Fuse Connected Services and Technology division. Additionally, other members of the senior team will assume worldwide responsibility for AGCO’s core brands to maximize brand value

Mytheresa Announces Closing of Initial Public Offering and Full Exercise of Underwriters’ Option to Purchase Additional American Depositary Shares25.1.2021 22:15:00 CETPress release

MYT Netherlands Parent B.V. (“Mytheresa” or the “Company”), the parent company of Mytheresa Group GmbH, today announced the closing of its initial public offering of 17,994,117 American Depositary Shares (“ADSs”), representing 17,994,117 ordinary shares, including the full exercise by the underwriters of their option to purchase 2,347,058 additional ADSs, representing 2,347,058 ordinary shares, at a public offering price of $26.00 per ADS. The Company sold 14,233,823 ADSs in the offering and its sole shareholder sold 3,760,294 ADSs in the offering, including 586,764 ADSs sold by the Company and 1,760,294 ADSs sold by the sole shareholder pursuant to the exercise in full of the underwriters’ option to purchase additional ADSs. Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC acted as lead joint bookrunning managers and representatives of the underwriters for the offering. Credit Suisse Securities (USA) LLC and UBS Securities LLC acted as joint bookrunning managers for the offerin

UAEREP Launches Fourth Cycle and Starts Receiving Project Proposals25.1.2021 17:11:00 CETPress release

The UAE Research Program for Rain Enhancement Science (UAEREP) announced the launch of its fourth cycle at the fifth International Rain Enhancement Forum (IREF), convened virtually under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Presidential Affairs. Submissions are open to innovative project proposals from across the globe. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005618/en/ UAEREP’s 4th Cycle Now Open! (Graphic: AETOSWire) The program offers a grant of up to US$1.5 million, distributed over three years with a maximum annual amount of $550,000 for each winning research proposal in the rain enhancement field. Over its past three cycles, the program has provided grants to nine ground-breaking projects that covered different fields related to rain enhancement and weather modification research. Interested academic institutions, research centers and ot

PPG Donates Coatings, Sealants to Help Restore Douglas C-54 Skymaster Aircraft25.1.2021 17:02:00 CETPress release

PPG (NYSE:PPG) today announced that it recently supplied coatings and sealants to help restore a 74-year-old, four-engine transport aircraft – the Douglas C-54 Skymaster, serial number 56498. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005599/en/ PPG today announced that it recently supplied coatings and sealants to help restore a 74-year-old, four-engine transport aircraft – the Douglas C-54 Skymaster, serial number 56498. (Photo: Business Wire) Manufactured in 1945, the aircraft was used by the U.S. Army Air Force as a workhorse to transport medical supplies, troops and military equipment during World War II, the Korean War and the Vietnam War. It left military service in 1973 and was flown as a sprayer from 1975 to 1985. After its first restoration was completed in 2002, the aircraft was flown to England to be featured in a film about the Berlin Airlift. The film was cancelled, and the C-54 Skymaster sat exposed

E-Fuel Corporation: “Rejected Energy” the Real Culprit Behind Climate Change and How to Stop It25.1.2021 17:00:00 CETPress release

The E-Fuel Corporation, a Texas-based technology firm, has come up with a revolutionary way to repurpose the largest energy source on the planet ‘rejected energy,’ which experts have identified as a leading cause of climate change. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005050/en/ The E-Fuel Corporation has come up with a revolutionary way to repurpose the largest energy source on the planet; rejected energy. (Photo: Business Wire) According to research conducted by the Lawrence Livermore National Laboratory and the US Department of Energy, rejected energy accounted for an astonishing 67.5 percent of the total energy consumed within the US in 2019. To put this in simple terms, if you placed three gallons of fuel into your vehicle, only one gallon provides mechanical energy to rotate the wheels and the remaining two gallons are rejected through the radiator, tailpipe, and engine friction heat into the atmosphere

Mawi DNA’s Extractionless Sample Collection Technology Enables BioTech Africa Launch of Affordable COVID-19 Mass Testing Platform25.1.2021 15:00:00 CETPress release

Mawi DNA Technologies’ iSWAB-Microbiome-EL sample collection technology enables BioTech Africa to implement and launch a new ultra-high throughput COVID-19 testing program. This breakthrough, in conjunction with the ProbeSure™ COVID-19 One Step RT-PCR Kit from 3CR Bioscience, is designed to scale up to a capacity of 200,000 tests per day. “We are extremely proud and humbled to be part of South Africa’s fight against COVID-19 through BioTech Africa’s mass testing efforts,” said Dr. Bassam El-Fahmawi, President and CTO, Mawi DNA Technologies. In addition, Dr. Jenny Leslie, COO of BioTech Africa, worked closely with Scilutions Labware and Hook Diagnostics to identify the best products and supplier partners who could provide reagents to streamline the testing workflow, but also scale to the projected numbers with minimal supply chain disruption. “For the sample collection step, Mawi DNA Technologies’ iSWAB-Microbiome-EL (‘Extractionless’) product was chosen for its multiple benefits. This

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom