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Northern Data YTD 2021 revenues surge buoyed by million-euro acquisitions

Northern Data

TL;DR Breakdown

  • Northern Data reveals that it made up to EUR 220M revenues by November.
  • The revelations are in the firm’s YTD operations update for 2021.

This year, Northern Data’s (ND) revenues are over 200 million Euros. The platform made the results public on December 2nd (PR). ND’s PR was a year-to-date report on its operations in 2021.

According to the company, the update will shape ND’s financial year in 2021. Aroosh Thillainathan, the company’s CEO, could not hide his joy. He was impressed with the progress as he released the report. Since acquiring Decentric and Bitfield, this is ND’s first report.

ND made almost EUR 130 million in EBTIDA and up to EUR 220 million in revenue. The CEO attributed the company’s success to high-performance processing power.

He stated that they would continue to increase ASIC miners following their previous plan.

Northern Data bringing more miners onboard

Northern Data has 17,000 miners online, according to the study. Since September, the number has been gradually increasing. It had only 7,000 ASICs at the time. However, by the end of October, this number had risen by 8,000 to 15,000 people.

Furthermore, ND added 2,000 new miners to its workforce in November. They raised almost 20,000 people. According to the research, NDs ASICs account for 15% of the 110,000 it will be running by the end of 2022. In addition, 6200 were for hosting clients.

During that time, the company made 466 BTC. 405 BTC were for its account, while 61 BTC were for third parties. In addition, the figure had been rising in lockstep with the number of miners.

Furthermore, the data associates rising BTC creation with rising hashrate. According to the YTD hashrate data, the result was 1.7 EH. Since September, there had been a continuous increase in the metric when it stood at 0.8 EH.

A balanced altcoin portfolio

Similarly, the data shows that the firm’s altcoin account is doing well. Its GPU population has reached 223,000 units so far this year. From 120,000 GPUs in August, the figure has risen by 200,000. This indicates a 186 percent increase in the number of miners.

Northern Data, meanwhile, saw a large increase in the amount of ETH it earned and hashing power. It increased its earnings from 3, 110ETH in August to 20, 812ETH by November. This is a 670 percent increase in the holding.

It also nearly doubled the amount of hashing power. It began at 6.8TH in August and ended at 12.7TH in November. Its ETH mining concern ran entirely on green energy.

Northern Data is a well-known provider of HPC infrastructure solutions. A few week ago it paid EUR 365 million for another BTC mining company, Decentric Europe. In September, it paid EUR 400 million for another Bitcoin mining company, Bitfield. N.V. The Frankfurt-based company has a high environmental, social, and governance (ESG) profile.

Edith Muthoni

Edith Muthoni

Edith is an investment writer, trader, and personal finance coach specializing in investments advice around the fintech niche. Her fields of expertise include stocks, cryptocurrencies, blockchain, and cryptocurrency investments.

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