Bitcoin miner Northern Data says production increased by 315% Y/Y in 2022

Northern Data AG, a German institution that specializes successful Bitcoin mining and unreality computing, released its December 2022 results for its mining division.

According to Northern Data AG, successful the fiscal twelvemonth 2022, it mined a full of 2,798 BTC, a important summation of 315% compared to the erstwhile year. This led to BTC mining revenues of EUR 77.7 cardinal successful the fiscal twelvemonth 2022. The mean merchantability terms of the 3,005 BTC mined and sold successful 2022 was EUR 23,849, contributing to a currency gross of EUR 71.7 million.

The information released by Northern Data besides indicated that it had astir 3.6 EH/s of computing powerfulness dedicated to BTC mining. Additionally, the institution said it “expects unaudited consolidated revenues successful the scope of EUR 190-194 cardinal and EBITDA adjusted for the trading nonaccomplishment from the merchantability of cryptocurrencies of EUR 40-50 cardinal (unaudited) for fiscal 2022.”

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However, December 2022 was a challenging period for Northern Data. The institution mined a full of 177 Bitcoin, which was a 25% YoY decrease, and a 15% MoM decrease. This was owed to precocious vigor prices, peculiarly successful Europe, which caused the deployed ASIC machines successful Europe to person acceptable amounts of "down time" wherever they were unable toproduce continuously.

Despite the challenges, the steadfast is successful the process of relocating its ASIC machines to “energy terms optimized locations”, to guarantee accumulation stableness and optimal capableness utilization, to reach its targeted accumulation of 350 BTC per month.

Related: Public Bitcoin mining companies plagued with $4B of corporate debt

On Jan 6, Cointelegraph reported that 1 of the largest Bitcoin mining operations successful North America, Marathon Digital Holdings, has been experimenting with overclocking to summation its competitive vantage successful the BTC mining industry.

According to an update issued by Marathon Digital Holdings, it produced 475 BTC successful December 2022, bringing its full mined Bitcoin successful the fiscal twelvemonth of 2022 to 4,144 BTC, a 30% summation from the 3,197 BTC produced successful 2021. 

Recently, immoderate Bitcoin mining companies person faced challenges owed to the expanding trouble of mining and the terms of electricity. This has caused a diminution successful mining profitability and led immoderate miners to unopen down their operations. While, others person reported important gross maturation and summation successful mining power, acknowledgment to amended mining hardware and mining bundle optimization.