PharmiWeb.com - Global Pharma News & Resources
01-Jul-2019

NORTHERN BITCOIN DOUBLES ITS MINING CAPACITIES

DGAP-News: Northern Bitcoin AG / Key word(s): Cryptocurrency / Blockchain/Contract

01.07.2019 / 11:17
The issuer is solely responsible for the content of this announcement.


PRESS RELEASE

NORTHERN BITCOIN DOUBLES ITS MINING CAPACITIES

 

- Acquisition of 4,475 ASIC Miners

- Doubling of existing mining capacities

- Further significant expansion steps ahead of completion


Frankfurt am Main - July 01, 2019. Northern Bitcoin AG (XETRA: NB2, ISIN: DE000A0SMU87), one of the world's leading companies in the sustainable mining of bitcoin, has signed a purchase agreement for the acquisition of 4,475 ASIC miners. The hardware consists of devices from Canaan Creative and Bitmain Technologies. Just a few days ago, Northern Bitcoin announced the start of scaling of its business with the launch of 6 additional mobile mining containers at its first site in Norway, where a total of 55 Petahash/s (PH/s) are now running in 21 mobile mining containers.

With the signing of the purchase agreement, Northern Bitcoin doubles its mining capacity from 57 PH/s to around 112 PH/s thanks to the additional performance.

The hardware will pass directly into the ownership of Northern Bitcoin and the company expects to be operational in the near future.

"The acquisition of the sought-after hardware is a great success for our company," explains Moritz F. Jäger, CTO of Northern Bitcoin AG. "With the doubling of our mining equipment just a few days after the start of our global scaling, we are setting the pace with which we aim to take a leading position in the fast-growing blockchain industry in the coming years".

Northern Bitcoin AG is a technology company focused on the Bitcoin blockchain. Last year, together with the world's leading IT suppliers, it developed a mobile mining container that enables the company to roll out a sustainable solution for cost-efficient mining of the Bitcoin in the shortest possible time. This has been successfully tested since last year, and in June 2019 the company launched its global scaling.

In addition to its first site in Norway, the company is preparing other sustainable sites where it will operate Bitcoin mining with excess green energy. The scaling of the company's own mining activities has been prepared at full speed in recent months. Today, the company is on the verge of significant expansion.

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 is available at 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



01.07.2019 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


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 Berlin, Dusseldorf, Frankfurt, Munich (m:access), Tradegate Exchange
EQS News ID: 833629

 
End of News DGAP News Service

Editor Details

Last Updated: 01-Jul-2019