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JUST IN: Greenidge Generation Holdings Inc., formerly one of the largest public Bitcoin miners in the US, has launched a new site in Mississippi. The 12-acre facility, which boasts 2400 miners, is projected to add 25 MW of additional power within the next 12 months. ⚡️ https://t.co/07X1EHOMLY
NEW: Northern Data Group, a #Bitcoin mining firm based in Germany, projects its sales to reach €240 million this year, tripling its 2023 results, as the company pivots to high-performance computing solutions for AI. 🤖 https://t.co/1wMCLMsSkB
Tether-backed Northern Data expects sales of €200M-€240M in 2024, up from €77.5M in 2023, on AI demand, as it disputes allegations of misrepresenting finances (@davidpan_1 / Bloomberg) https://t.co/mKyfW87Ckr 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/8gjXTh54J8
Northern Data, a Tether-backed Bitcoin mining firm based in Germany, saw its revenue decline to €77.5 million in 2023 from €193.3 million the previous year. Despite this drop, the company mined 2,298 BTC and is optimistic about a significant recovery, projecting sales between €200 million and €240 million in 2024. This optimism is fueled by substantial investments in high-performance computing (HPC), artificial intelligence (AI), and Peak Mining. Additionally, Northern Data is considering a US IPO with a valuation between $10 billion and $16 billion.