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DGAP-News: Northern Data AG / Key word(s): Monthly Figures/Cryptocurrency / Blockchain
PRESS RELEASE / IR RELEASE
Northern Data reports on operations for May 2022
Frankfurt/Main – 03 June 2022 – Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) today issued an update on business activities for May 2022 reporting an increase of 4% to 46,000 machines of the latest generation of ASIC systems deployed by Northern Data. A total of approx. 295 Bitcoin were produced, a decrease of approx. 9% from the previous month due to a temporary restriction at one site of a Northern Data ASIC hosting customer. Without this restriction, Bitcoin production would have been almost unchanged from the previous month. Current available computing power for Bitcoin mining in June is 3.6 EH/s. This should enable the generation of an estimated 10 Bitcoin per day in June 2022. By the end of the year, as planned, a total of more than 100,000 ASIC systems are expected to be in operation, representing approximately 9.3 EH/s. The bulk of these ASIC systems is already paid for.
GPU server systems, with more than 223,000 GPUs, have been fully operational since the end of last year. A total of 4,560 ETH were generated in May 2022.
As of 31 May 2022, Northern Data held cryptocurrencies, including the receivables to which the company is contractually entitled to, of a total of approx. 1,360 BTC and approx. 39,820 ETH, which at current exchange rates (BTC/EUR 29,617; ETH/EUR 1,809) equates to a value of all cryptocurrencies held of approx. EUR 112 million.
Management sees the possibility of a decline in the global hashrate due to the lower BTC and ETH prices, as it can be assumed that many market participants operating with outdated and thus inefficient hardware or with excessive electricity costs. Consequently, these market participants in BTC as well as ETH mining could reach break-even points and thus exit the market. In contrast, Northern Data's operational production costs per Bitcoin are currently far below the average production costs available in the market, partly due to the use of the latest generation of ASIC systems. The company could consequently achieve a higher market share over the coming months in this scenario, which could increase Northern Data's share of the 900 Bitcoin per day generated.
03.06.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
Northern Data AG
An der Welle 3
+49 69 34 87 52 25
Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange
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