- Launch of Lefdal / Norway mine
- Commencement of Bitcoin mining in mid-May 2018
- Successful development of proprietary mining pool
Frankfurt/Main, 03 September 2018 – Northern Bitcoin AG (ISIN: DE000A0SMU87) has succeeded at taking its Bitcoin mining infrastructure in Norway into operation during the first half of 2018. During this time, a capacity of 47,000 TH/s was installed and since mid-May 2018 the corresponding Bitcoin mining activities have been taking place through which an overall output of EUR 1.18 million was achieved in H1/2018.
Building upon its Bitcoin mining infrastructure in Norway based on mobile mining containers, Northern Bitcoin AG during the first half-year has furthermore self-developed the software for a proprietary Bitcoin mining pool with which it in the course of making a substantial contribution to the Bitcoin infrastructure on a global scale.
“The rapid technical implementation of our Bitcoin infrastructure, based upon both a hardware and a software component, has made us one of the fastest growing Bitcoin corporations in Europe,” says Mathis Schultz, CEO of Northern Bitcoin AG. “With the imminent market introduction of our proprietary mining pool, we now have the potential to establish ourselves as a leading player for most anything related to Bitcoin.”
Following the successful launch of the mobile Bitcoin mining containers at the site in Norway, the company is now glancing upon the imminent introduction of its proprietary mining pool. The Northern Bitcoin mining pool is a self-developed software for governing mining computing power. It addresses all Bitcoin miners worldwide and enables them to achieve constant revenue streams and, hence, increase the visibility of their income. Northern Bitcoin receives a fee in form of a pro-rata participation in the users’ mining proceeds.
Corresponding to this phase of developments and the comprehensive establishment of operations, Northern Bitcoin AG managed to achieve a net result of EUR -1.48 million for H1/2018.
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 Data AG and does not constitute a prospectus of Northern Data 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 investment matters, please consult qualified professional advice. This release and the information contained herein are not for distribution, directly or indirectly, in or into the United States of America, Canada, Australia or Japan.
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