Northern Data"s Bitcoin Mining Fleet Adds 21,000 ASIC Rigs, Firm Holds $168M in Crypto Assets
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. Kazakhstan Auditors Go After Crypto Miners Accused of Exploiting Tax Benefits MINING | 1 day ago Russia Will Not Try to Ban Home Crypto Mining, Finance Ministry Official Indicates MINING | 2 days ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBiggest Movers: CAKE Hits $10, as DOGE Rises for a Second Consecutive Session Next articleBitcoin Cold Case: The Tale of the Dormant Wallet With Close to 80,000 BTC From Mt Gox 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 disclaimerShow comments More Popular NewsIn Case You Missed ItPolygon Announces Zero-Knowledge Identity Platform for Web3
On March 29, Polygon, the layer two (L2) scaling solution that runs parallel with the Ethereum blockchain, has announced a new identity platform called Polygon ID. While the protocol is is still under development, Polygon ID is powered by zero-knowledge ... read more.Leading NFT Marketplace Opensea to Add Solana Support in April Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC 19 Million Bitcoin Have Been Mined Into Circulation, 2 Million Left to Be Found US Senator Cruz Introduces Bill to Prevent Federal Reserve From Using Digital Currency as Surveillance Tool