The earnings for Northern Data AG’s mining division have been made public. This German business specializes in cloud computing and Bitcoin mining.
According to Northern Data AG, it mined 2,798 Bitcoin in the 2022 fiscal year, a 315% increase from the year prior. As a result, BTC mining generated 77.7 million euros in revenue in fiscal 2022. In 2022, the company sold 3,005 BTC for an average price of 23,849 euros, resulting in cash sales of 71.7 million euros.
3.6 exahashes per second (EH/s) of computing power were allocated to BTC mining, according to Northern Data’s data. Additionally, the company said it expects unaudited consolidated revenues in the range of 190 million to 194 million euros, with earnings before interest, taxes, depreciation, and amortization (EBITDA) “adjusted for the trading loss from the sale of cryptocurrencies” of 40 million to 50 million euros.
However, Northern Data faced difficulties in December. In total, 177 Bitcoin were mined by the company, a decrease of 25% from December 2021 and 15% from November. This was due to high energy prices, particularly in Europe, which caused the deployed ASIC machines in Europe to have set amounts of “downtime” where they were unable to produce continuously.
The firm said it is relocating its ASIC machines to “energy price optimized locations” to ensure production stability and optimal capacity utilization in an attempt to reach its production target of 350 BTC per month.
On January 6, Cointelegraph reported that Marathon Digital Holdings, one of the biggest Bitcoin mining operations in North America, has been experimenting with overclocking to improve its competitive advantage in the BTC mining industry.
According to a Marathon Digital Holdings update, the company produced 475 BTC in December, bringing its total amount of Bitcoin mined in the fiscal year 2022 to 4,144 BTC, a 30% increase from the 3,197 BTC produced in the fiscal year 2021.
Due to the rising cost of electricity and mining’s increasing difficulty, some Bitcoin mining companies have recently encountered difficulties. Because of this, mining profitability has decreased, and some miners have decided to stop working. Others have noted significant increases in revenue and mining power as a result of improved mining hardware and mining software optimization.
