NORTHERN DATA AG
DGAP-News: Northern Data AG / Key word(s): Cryptocurrency / Blockchain
Northern Data AG sees substantial demand for its bitcoin mining services
2020-12-18 / 07:30
The issuer is solely responsible for the content of this announcement.
*PRESS RELEASE
Northern Data AG sees substantial demand for its bitcoin mining services*
*- Rise in bitcoin price leads to strong increase in customer demand*
*- Expansion of existing mining locations as well as short-term development
of new sites*
*- Additional upside through performance-linked remuneration from bitcoin
mining clients *
*Frankfurt am Main - December 18, 2020 *- Northern Data AG (XETRA: NB2,
ISIN: DE000A0SMU87) is currently seeing a substantial increase in demand for
its bitcoin mining infrastructure services.
Bitcoin mining is the most important high-performance computing (HPC)
application to date. Consequently, with its global infrastructure solutions
in the field of HPC, Northern Data serves many customers in the field of
bitcoin mining, including several multibillion-dollar listed corporations.
With the rise of Bitcoin as an essential asset class and the associated need
for computing capacity for bitcoin mining, Northern Data benefits in two
ways: First, the Company experiences a sharp increase in customer demand.
Second, Northern Data has performance-linked remuneration in place with some
of its clients, such that Northern Data is now directly profiting from the
rise in the bitcoin price.
In addition to the existing facility in Texas, the capacities in the Lefdal
mine in Norway, which launched in May 2018, are also about to be further
expanded. And in Scandinavia alone, five new locations for high-performance
computing and bitcoin mining are expected to begin operations over the
coming months. Furthermore, multiple locations in North America, especially
Canada, are in final stages of negotiation.
In addition to the further expansion of its bitcoin mining activities, the
Company is also expanding into other applications of high-performance
computing. The Company's GPU-based distributed computing cluster began
operating earlier in December.
This GPU cluster will be scaled to computing power of 404 petaflops (FP64)
by the end of Q1/2021, well ahead of the currently second fastest
supercomputer in the world, the US "Summit", which has a computing power of
148.8 petaflops. Only the Japanese supercomputer Fugaku will be ahead of
Northern Data's GPU cluster, at 537 petaflops.
CEO Aroosh Thillainathan comments: "With more than seven years of experience
in bitcoin mining and innovative solutions for both mobile units and
large-scale facilities, Northern Data has a technological edge over the
competition like no other company in the market. This is the basis of our
success. In addition to the basic remuneration model, our performance-driven
revenues, with which we participate in a rising bitcoin price, give us
additional upside that we have not yet taken into account in our guidance."
Earlier this week Northern Data released its guidance for the financial year
2021. The Company expects sales of EUR 350 million to EUR 400 million and
EBITDA of EUR 100 million to EUR 125 million in 2021, based on contracts
that have already been executed or are in the process of being concluded and
without considering any additional upside from performance-linked revenues
and earnings.
*About Northern Data:*
Northern Data AG [1] develops and operates global infrastructure solutions
in the field of high-performance computing (HPC). With its customer-specific
solutions, the company provides the infrastructure for various HPC
applications in areas such as bitcoin mining, artificial intelligence,
blockchain, big data analytics, IoT or rendering. The internationally active
company is today 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 its self-developed software and hardware with a
sustainable energy supply. The Northern Data group currently employs about
150 members of staff.
*Press contact:*
Northern Data AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
Thurn-und-Taxis-Platz 6
60313 Frankfurt
e-mail: hans.duerr@northerndata.de
Phone: +49 69 348 752 89
*Investor Relations:*
Sven Pauly
e-mail: ir@northerndata.de
Phone: +49 89 125 09 03 30
*Disclaimer:*
This press release does not constitute an offer to sell or a solicitation of
an offer to purchase or subscribe for any 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 serve as a
basis for financial, legal, tax or other business decisions. Investment or
other decisions should not be based solely on this press release. As with
all business and investment matters, please consult qualified professional
advice.
2020-12-18 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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
EQS News ID: 1156172
End of News DGAP News Service
1156172 2020-12-18
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=d41c868ef13dfa741cac89964008f31a&application_id=1156172&site_id=vwd&application_name=news(END) Dow Jones Newswires
December 18, 2020 01:30 ET (06:30 GMT)
