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24-Jun-2019

NORTHERN BITCOIN BEGINS WITH THE GLOBAL SCALING OF ITS GREEN BITCOIN MINING

DGAP-News: Northern Bitcoin AG / Key word(s): Expansion/Sustainability

24.06.2019 / 11:12
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

NORTHERN BITCOIN BEGINS WITH THE GLOBAL SCALING OF ITS GREEN BITCOIN MINING

 

- Starting signal for the scaling of sustainable mining activities

- 6 additional mobile mining containers commissioned in June

- More green sites worldwide to be started up shortly

 

Frankfurt am Main, Germany / Lefdal, Norway - June 24, 2019 - Northern Bitcoin AG (XETRA: NB2, ISIN: DE000A0SMU87) has begun the scaling of its sustainable mining activities. At its first location in Lefdal, Norway, with 15 mobile containers already in operation, the company has now taken 6 additional containers into operation. The commissioning of the additional containers marks the beginning of a global scale-up in which Northern Bitcoin will build massive Bitcoin mining capacities at its site in Lefdal as well as at additional sites in Norway and other countries.

After the successful development and initial deployment of mobile mining containers in the past financial year, Northern Bitcoin has focused on improving the hardware and software for rapid scaling, preparing partnerships with the industry's leading players and identifying additional locations where Bitcoin mining can be carried out CO2-neutrally and cost effectively.

"We are very pleased that the global scaling of our mining activities has now begun," says Moritz F. Jäger, CTO of Northern Bitcoin AG. "At our first site, the Lefdal mine in Norway, we are benefiting from excess hydropower energy that enables us to mine CO2-neutral Bitcoins. In this way, we significantly contribute to the sustainable development of Bitcoin and can further establish ourselves as a leading company in sustainable Bitcoin mining".

Northern Bitcoin AG started sustainable Bitcoin mining in 2018 at its first site at the Lefdal mine in Norway. The location is ideal for the company: the former olivine mineral mine has been converted into a high-performance data center and has a number of factors that dramatically reduce the operating costs of Bitcoin mining. The mine is located deep in a mountain directly next to the Nordfjord, whose 8°C cold water is used during the entire year by an innovative system for cooling the mining hardware. This reduces operating costs by up to 40 percent compared to similar data centers. The electricity comes from regenerative sources from surrounding hydropower plants which provide surplus energy at Europe's lowest electricity costs.

Parallel to the scaling of mining activities at the Lefdal Mine in Norway, Northern Bitcoin is preparing further sites, some of which are soon to be started up and also meet the company's sustainability criteria.


About Northern Bitcoin:
Northern Bitcoin AG is a technology company focused on the Bitcoin blockchain. It is challenging the status quo of Bitcoin mining and redefining it. As a pioneer, it provides Bitcoin and blockchain technology with a sustainable infrastructure. To this end, it operates its own state-of-the-art mining hardware based on renewable energy sources under extremely cost-efficient and secure conditions as well as a self-developed mining pool. The company is headquartered in Frankfurt am Main. Further information under www.northernbitcoin.com.

Disclaimer:
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 Bitcoin AG and does not constitute a prospectus of Northern Bitcoin 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.

Press contact:
Northern Bitcoin AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
Thurn-und-Taxis-Platz 6
60313 Frankfurt
Germany
E-Mail: h.duerr@northernbitcoin.com
Telefon: +49 69 348 752 89

Investor Relations:
Sven Pauly
E-Mail: ir@northernbitcoin.com
Telefon: +49 89 125 09 03 31



24.06.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Northern Bitcoin AG
Thurn-und-Taxis-Platz 6
60313 Frankfurt/Main
Germany
Phone: +49 69 34 87 52 25
E-mail: info@northernbitcoin.com
Internet: www.northernbitcoin.com
ISIN: DE000A0SMU87
WKN: A0SMU8
Listed: Regulated Unofficial Market in Frankfurt, Munich (m:access)
EQS News ID: 829349

 
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Last Updated: 24-Jun-2019