Peak Mining Operations Update

PRESS RELEASE / IR NEWS

Peak Mining Operations Update
 

• 178 BTC generated in October (+2% month-on-month)
• Generating revenues of EUR 5.0 million (+16% month-on-month)
• Year-to-date BTC revenue of EUR 48.7 million

 
Performance Indicators

All monthly figures are unaudited and may include rounding and billing differences for Bitcoin production.

Frankfurt/Main – 20 November 2023 – Peak Mining, part of Northern Data Group, today provided an update on its business activities for the month of October. Peak Mining produced a total of 178 Bitcoin in October 2023, generating revenues of EUR 5.0 million, roughly 16% more than the corresponding figure for the previous month. Year-to-date BTC revenue thus totals EUR 48.7 million.

In Europe, Peak Mining participates in a grid demand response program (balancing the demand on power grids), which generated approximately EUR 0.1 million of additional income in October corresponding to a year-to-date income of EUR 2.6 million from the program.

Peak Mining is in the process of upgrading its hardware following its recent USD 150 million hardware purchase. As such there will be ongoing fluctuations in the number of installed miners, month over month. Peak Mining had a self-mining hash rate of around 3.27 EH/s and 34,947 ASIC systems installed on the Bitcoin network at the end of October 2023 (about 13% less than previous month). Peak Mining expect this to significantly increase by the end of Q1 2024, as new hardware and sites come online.

About Peak Mining:

Peak Mining is powering the future of the Bitcoin network. Part of Northern Data Group, we deliver industry-leading operating and energy efficiency in Bitcoin mining through the latest hardware alongside innovative technology and infrastructure. With our mining heritage dating back to 2013, we’ve been innovating for over a decade and have been at the forefront of the industry ever since.

About Northern Data Group:

Northern Data Group (ETR: NB2) is a provider of High-Performance Computing (HPC) infrastructure solutions. Our HPC infrastructure forms the foundation of our three business divisions: Taiga Cloud; Ardent Data Centers; and Peak Mining. Through our dedicated compute power, we fuel innovation in Generative AI and Blockchain technologies. Our partnerships with industry leading HPC hardware manufacturers including NVIDIA, Gigabyte and MicroBT are fundamental to the acceleration of innovation in the areas we operate in.

Investor Relations:

Jens-Philipp Briemle
Head of Investor Relations
An der Welle 3
60322 Frankfurt am Main
E-Mail: jens-philipp.briemle@northerndata.de
Telefon: +49 171 557 6989