Northern Data ends 2022 with no debt and more than $200 million in revenue

Northern Data revealed how much bitcoin mining is expected to bring in for the company at the end of this year.
According to according to German bitcoin miner Northern Data, the company expects to see revenues from its No. 1 cryptocurrency mining operation in the range of $202 million to $206 million by the end of 2022, which will be no less than in 2021. In 2021, the company scaled up its operations 10-fold by purchasing and commissioning a new fleet of mining equipment.
The organization said it has no outstanding financial obligations, so it has a “unique opportunity to increase its share of bitcoin mining.” Northern Data said it sees “significant opportunities in the use of superpowered computing equipment.”
The earnings forecast before amortization and tax is in the range of $43 million to $80 million for Northern Data. The bottom line is likely to be closer to the upper bound, as the company will be compensated for power outages in 2022 and affected the Whinstone unit. That unit was eventually sold by the organization and the proceeds from the sale of that facility will also increase the bottom line operating result.
Northern Data estimates that the company plans to mine 500 BTC per month, given that the organization has ordered another 13,000 ASICs. Given the energy tariff in Europe of 0.03 euros per kilowatt hour, the organization sees the breakeven point of mining bitcoin at 10 thousand euros. Recall that earlier another miner, TerraWulf, told about its break-even point of bitcoin mining.

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