According to a new letter to shareholders Posted On December 21, Aroosh Thillainathan, CEO of German bitcoin (BTC) mining company Northern Data, said the company will make more than $202 million to $206 million in revenue from its cryptocurrency mining business this year. said it expects to produce In the mid-range, this represents his 1.11% growth from his 2021 fiscal year total revenue of $202 million in Northern Data, and the company made him 10 times more profitable from 2020. . Thillainathan added:
“Having no financial debt, Northern Data has access to a unique opportunity to strengthen and expand its current position in BTC mining while scaling its cloud solutions and colocation services in parallel.HPC is a huge opportunity.” I believe there is [high-performance computing] It’s our target market. ”
The blockchain CEO also said investors should expect guidance of $43 million to $80 million in adjusted earnings (EBITDA) before interest, taxes, depreciation, and amortization. In 2021, Northern Data generated his EBITDA of $95.2 million. Unadjusted figures are reimbursements from Whinstone’s US subsidiary power contracts due to weather-related outages and its Whinstone subsidiaries.
Thillainathan explained that the lack of growth seen in the business forecast is due to the combination of ‘+46% YTD’. [year to date]Rise in hash rate, “BTC price has fallen more than 60% since the beginning of the year”, “extreme rise in electricity prices”, etc.
Thillainathan revealed that the company has commissioned about 13,000 application-specific integrated circuit (ASIC) miners with corresponding power contracts in the coming months. “Northern Data’s monthly BTC production could mathematically already be around 500 BTC (at current mining difficulty). Bitcoin production and therefore high profitability at current BTC prices are still possible,” wrote the CEO.
