Northern Data’s Bitcoin Mining Fleet Adds 21,000 ASIC Rigs, Firm Holds $168M in Crypto Assets

Bitcoin News

On April 4, the bitcoin mining operation Northern Data published its financial statements and noted that the company’s mining fleet had grown by approximately 21,000 machines by the end of March 2022. The newly added machines increased the company’s hashrate from 2 exahash per second in February to 3.95 EH/s by the end of March.

Northern Data Adds Thousands of New ASICs to the Mining Fleet, Hashrate Doubles

According to an audit report published by KPMG, the bitcoin miner Northern Data has seen growth during the last few months. Northern Data’s financial statements note that the firm added 21,000 new ASIC mining rigs to the company’s fleet of devices.

The latest addition brings Nothern Data’s total number of ASIC rigs to 43,500 machines. Northern Data explains that the added machines resulted in increased hashrate as they added 1.95 EH/s to the firm’s 2 EH/s capacity.

Northern Data says 21,700 are hosted machines and the rest of the miners are dedicated to the company’s own account. “By the end of the year, a total of more than 100,000 ASIC systems are expected to be in operation, representing approximately 9.3 EH/s,” Northern Data explained in a press release. “The bulk of these ASIC systems are already paid for,” the firm added.

223,000 GPUs Operational, Firm Holds $168 Million in Bitcoin and Ethereum

In addition to ASIC mining rigs dedicated to mining bitcoin (BTC), Northern Data is mining ethereum (ETH) as well. “223,000 GPUs are operational since the end of last year,” the firm explained on Monday. “A total of 5,031 ETH were generated in March 2022,” Northern Data’s financial statement shows.

In March, the company mined 286 BTC and 5,031 ETH, which brings the firm’s crypto holdings to 1,000 BTC and 35,200 ETH. At the end of March, Northern Data disclosed that the company has expanded as well, to a total of 12 data centers across the globe. Moreover, the company aims to work in Tulsa, Oklahoma in 2024.

“Northern Data entered into a partnership with the State of Oklahoma and energy provider Grand River Dam Authority (GRDA) and plans to build a data center site in the vicinity of Tulsa for around 70,000 ASIC systems by the end of 2024,” the company’s financial statement concludes.

Tags in this story
21000 machines, 3.95 EH/s, added exahash, Bitcoin (BTC), Bitcoin hashrate, bitcoin miner, BTC, BTC Mining, EH/s, ETH mining, Ethereum, Ethereum (ETH), Hashpower, Hashrate, Holding crypto, New ASICs, Northern Data, Northern Data financials

What do you think about Northern Data adding 21,000 machines to the company’s fleet of miners? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Products You May Like

Articles You May Like

Axie Infinity to compensate Ronin exploit victims and relaunch bridge
Bitcoin hodler data hints BTC price ‘really close’ to bottom — analysts
CBDC may threaten stablecoins, not Bitcoin: ARK36 exec
Ethereum analyst warns of ‘clean fakeout’ despite 30% ETH price rebound
Bitcoin whale support lines up as trader says $14K ‘most bearish’ BTC price target

Leave a Reply

Your email address will not be published.