Northern Bitcoin doubles its mining capacities

  • Acquisition of 4,475 ASIC Miners
  • Doubling of existing mining capacities
  • Further significant expansion steps ahead of completion

Frankfurt am Main, Germany – July 01, 2019. Northern Bitcoin AG (XETRA: NB2, ISIN: DE000A0SMU87), one of the world’s leading companies in the sustainable mining of bitcoin, has signed a purchase agreement for the acquisition of 4,475 ASIC miners. The hardware consists of devices from Canaan Creative and Bitmain Technologies. Just a few days ago, Northern Bitcoin announced the start of scaling of its business with the launch of 6 additional mobile mining containers at its first site in Norway, where a total of 55 Petahash/s (PH/s) are now running in 21 mobile mining containers.

With the signing of the purchase agreement, Northern Bitcoin doubles its mining capacity from 57 PH/s to around 112 PH/s thanks to the additional performance.

The hardware will pass directly into the ownership of Northern Bitcoin and the company expects to be operational in the near future.  

“The acquisition of the sought-after hardware is a great success for our company,” explains Moritz F. Jäger, CTO of Northern Bitcoin AG. “With the doubling of our mining equipment just a few days after the start of our global scaling, we are setting the pace with which we aim to take a leading position in the fast-growing blockchain industry in the coming years”.

Northern Bitcoin AG is a technology company focused on the Bitcoin blockchain. Last year, together with the world’s leading IT suppliers, it developed a mobile mining container that enables the company to roll out a sustainable solution for cost-efficient mining of the Bitcoin in the shortest possible time. This has been successfully tested since last year, and in June 2019 the company launched its global scaling.

In addition to its first site in Norway, the company is preparing other sustainable sites where it will operate Bitcoin mining with excess green energy. The scaling of the company’s own mining activities has been prepared at full speed in recent months. Today, the company is on the verge of significant expansion.

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Disclaimer

This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities of Northern Bitcoin AG and does not constitute a prospectus of Northern Bitcoin AG. The information contained in this press release is not intended to form the basis of any financial, legal, tax or other business decision. Investment or other decisions should not be made solely on the basis of this press release. As with all business and  nvestment matters, please consult qualified professional advice. This release and the information contained herein are not for distribution, directly or indirectly, in or into Canada, Australia or Japan.

Press Contact

Dr. Hans Joachim Dürr
Head of Corporate Communications
E-Mail: h.duerr@northernbitcoin.com
Phone: +49 69 348 752 89

Investor Relations

Sven Pauly
E-Mail: ir@northernbitcoin.com
Phone: +49 89 125 09 03 31

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