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Northern Data AG Acquires Bitcoin Minor Bitfield – Gains 33,000 Miners in Stock-for-Stock Deal – Mining Bitcoin News


On Monday, high-performance computing (HPC) infrastructure provider and bitcoin mining firm Northern Data AG announced the acquisition of bitcoin mining operations Bitfield NV in a stock-for-stock deal. Northern Data says the company will receive 33,000 of the latest generation ASIC bitcoin mines from the system.

Northern Data AG acquires Bitfield NV – gains instant access to firm deployable ASIC mining rigs

At the time of writing the Bitcoin network hashrate is hovering above the handle at 140 seconds per second (EH / s). Bitcoin mining has become incredibly competitive and operations are trying to become more energy efficient. In 2021, there are thousands of ASIC bitcoin mining orders and acquisitions. September 2, HPC infrastructure provider and bitcoin mining company Northern Data AG announces the acquisition of Operation Bitfield.

The acquisition will allow Northern Data to acquire 33,000 ASIC bitcoin miners. “Northern Data will earn 100% (but not less than %%) equity interest on Bitfield NV for a total enterprise value of approximately ০০ 100,000 million and today signed a binding purchase agreement with major shareholders,” the company announced.

Northern Data will have instant access to Bitfield’s deployable ASIC mining rigs and current hardware, including “already 6,600 high-performance ASIC miners.”

“The commissioning schedule for hiring 26,000 brand-new miners initially available on North American sites is expected to be completed by the end of Q1 2022,” Northern Data reports.

Stock-for-Stock Trading: 5.1 Million Shares Issued on Northern Data AG

The transaction between the two parties will be a “stock-for-stock transaction that issues 5.1 million shares in Northern Data AG.” All bitcoin mining sites are located “primarily” in “Canada and the United States,” the statement said Monday. The company plans to “increase the number of ASIC minor and GPU server systems” in the future.

“The acquisition of Bitfield is an important pillar of our scalable growth strategy,” said Arosh Thillinathan, founder and CEO of Northern Data AG, in a statement sent to Bitcoin.news. “Through this acquisition, we are integrating Bitcoin Mining with our existing three businesses – Bitcoin Hosting and Services, Altcoin Mining and Cloud Computing – and gaining further value due to the trend of profitability.”

What do you think of Northern Data AG about the acquisition of Bitcoin mining firm Bitfield? Let us know what you think about this in the comments section below.

Tags in this story

33K Mining, Aroosh Thillainathan, ASIC, ASIC Mining, Bitcoin, Bitcoin (BTC), Bitcoin Miner, Bitcoin Mining, Bitfield, BTC Mining, GPU, High-Performance Computing (HPC), HPC, Mining Operation

Image credit: Shutterstock, Pixabay, WikiCommons

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