In the medium term, the forecast represents growth of 1.1% compared to sales in 2021.

According to a Dec. 21 letter to shareholders from CEO Aroosh Thillainathan, German Bitcoin
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$16,835

Mining company Northern Data expects to generate more than $202-$206 million in revenue from crypto mining operations this year. At the midpoint of the range, that represents 1.11% growth over Northern Data’s total revenue of $202 million in fiscal 2021, when the company grew revenue tenfold from 2020. Thillainathan added:

“Northern Data has no financial debt and therefore has access to a unique opportunity to solidify and grow our current position in BTC mining while scaling cloud solutions and colocation services. We see significant opportunities in the HPC [high performance computing] markets that we are targeting. »
The blockchain CEO also said that investors should expect adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) guidance of between $43 million and $80 million. In 2021, Northern Data generated EBITDA of USD 95.2 million, although the unadjusted figures are even higher due to special effects such as the repayment of electricity contracts by the American subsidiary Whinstone after power outages. weather-related currents; and the impact of the sale of subsidiary Whinstone.

Thillainathan explained that the overall lack of growth in his trade forecasts was due to a combination of a “+46% YTD [year to date]” hash rate increase: “BTC prices are down more than 60%. since the beginning of the year” and “extreme increases in electricity prices”.

Electricity prices in Germany have skyrocketed in the past year. Source: Trade Economics
Looking ahead, Thillainathan announced that the company has ordered approximately 13,000 application-specific integrated circuit (ASIC) miners with related supply contracts for the coming months. “Northern Data’s monthly BTC production could mathematically already be around 500 BTC (at the current mining difficulties). Because with energy costs of around EUR 0.03/kWh, the production of a bitcoin for around EUR 10,000 and thus high profitability at the current BTC price is still possible,” writes the CEO.

Source: CoinTelegraph

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