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 mining fleet, Hashrate doubles
According to an audit report published by KPMG, bitcoin miner Northern Data has seen growth over the past few months. Northern Data’s financial statements indicate that the company has added 21,000 new ASIC mining rigs to the company’s rig fleet.
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 over 100,000 ASIC systems are expected to be operational, representing approximately 9.3 PE/s,” Northern Data explained in a press release. “The bulk of these ASIC systems are already paid for,” the company 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, bringing the company’s crypto holdings to 1,000 BTC and 35,200 ETH. At the end of March, Northern Data revealed that the company had also expanded to a total of 12 data centers around the world. Additionally, 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.
