Northern Data AG, a German company specializing in Bitcoin mining and cloud computing, has released its December 2022 results for its mining division.
According to Northern Data AG, in fiscal year 2022 it mined a total of 2,798 BTC, a significant 315% increase compared to the previous year. This resulted in BTC mining revenue of €77.7 million in fiscal year 2022. The average sale price of the 3,005 BTC mined and sold in 2022 was €23,849, contributing to cash revenue of €71.7 millions of euros.
Data published by Northern Data also indicated that it had approximately 3.6 EH/s of computing power dedicated to BTC mining. Furthermore, the company said that it “expects unaudited consolidated revenue in the range of 190-194 million euros and adjusted EBITDA for the trading loss from the sale of cryptocurrencies of 40-50 million euros (unaudited) for the fiscal year. 2022.”
However, December 2022 was a difficult month for Northern Data. The company mined a total of 177 Bitcoin, which was down 25% YoY and 15% MoM. This was due to high energy prices, especially in Europe, which caused ASIC machines deployed in Europe to have periods of inactivity where they could not produce continuously.
Despite the problems, the company is moving its ASIC machines to “locations with optimized energy prices” to ensure production stability and optimal capacity utilization, in order to reach its production target of 350 BTC per month.
January 6th, Cointelegraph reported that one of the largest Bitcoin mining operations in North America, Marathon Digital Holdings, has been experimenting with overclocking to increase its competitive advantage. in the BTC mining industry.
According to an update issued by Marathon Digital Holdings, it produced 475 BTC in December 2022, bringing its total Bitcoin mined in fiscal 2022 to 4,144 BTC, an increase of 30% from the 3,197 BTC produced in 2021.
Recently, some Bitcoin mining companies have been facing challenges due to the increasing difficulty of mining and the price of electricity. This has caused a drop in mining profitability and has led some miners to shut down their operations. While others have reported significant revenue growth and increased mining power, thanks to better mining hardware and mining software optimization.
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