DGAP-News: Northern Data AG / Key word(s): Incoming Orders 
Northern Data: Existing bitcoin mining customer expands contract volume by 
more than 200 MW 
 
2021-01-04 / 07:30 
The issuer is solely responsible for the content of this announcement. 
 
*PRESS RELEASE 
 
Northern Data: Existing bitcoin mining customer expands contract volume by 
more than 200 MW* 
 
*- The rise of Bitcoin catapults customer demand to new heights* 
 
*- Northern Data participates in the positive bitcoin price development 
through performance-based component of customer fees* 
 
*- Accelerated expansion of up to five new data center locations* 
 
*Frankfurt am Main - January 4, 2021 -* 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. 
 
*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 
 
*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. 
 
2021-01-04 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. 
 
The DGAP Distribution Services include Regulatory Announcements, 
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Archive at www.dgap.de 
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: 1158100 
 
End of News DGAP News Service 
 
1158100 2021-01-04

(END) Dow Jones Newswires

January 04, 2021 01:30 ET (06:30 GMT)