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Bitcoin mining company Northern Data says production increased 315% year over year in 2022


Northern Data AG, a German bitcoin mining and cloud computing company, released earnings results for its mining division.

Northern Data AG said that in fiscal 2022 it mined 2,798 bitcoins (BTC), up 315% from the previous year. This resulted in revenue from bitcoin mining of €77.7m in fiscal 2022, as the company sold 3,005 bitcoins in 2022 for an average price of €23,849, contributing to cash revenue of €71.7m.

The data published by Northern Data also indicated that it had about 3.6 exahashes per second (EH/S) of computing power devoted to mining Bitcoin. In addition, the company said it expects unaudited consolidated revenue in the range of 190 million to 194 million euros, with EBITDA "adjusted for trading loss on the sale " of 40 million to 50 million euros.