Yahoo Finance Northern Data Shows Why Bitcoin Mining Demand Is At An All-Time High
Since computing-intensive applications, such as Bitcoin, AI, and machine learning, are gaining traction, the demand for high-performance computing (HPC) data centers is skyrocketing, with the HPC market being expected to grow to around $50 billion by 2025.
Recently, payment facilitators, such as PayPal and Square, allowed their customers to buy, sell, and hold cryptocurrencies. Additionally, the first U.S. companies have started to buy Bitcoin as a currency reserve. Considering these developments, and the fact that the Federal Reserve System created over 20% of all U.S. dollars in circulation in 2020, the cryptocurrency market is expected to grow massively. According to JP Morgan, Bitcoin could even reach a price of $100,000. This rise in Bitcoin prices is also increasing the demand for HPC solutions.
One company, Northern Data, specializes in high-performance computing and is a leading provider of Bitcoin mining infrastructure with a focus on efficiency and sustainability. It brings speed and power to computing-intensive HPC applications that are essential for digitization by developing extremely cost-efficient HPC solutions tailored to specific applications. With data centers all around the world and modular high-tech data centers that are easily scalable, Northern Data is setting a new standard for the industry and is able to provide its HPC solutions to meet the ever-growing global demand.
Targeted To Hit At Least $425 Million In 2021 Revenue
With proprietary software and hardware tools, Northern Data minimizes the risk of hardware faults and significantly increases time- and cost-efficiency. Further, by keeping time-to-market low and power use efficiency high, its operating costs are best in class. Northern Data’s revenue is projected to reach between €350 million and €400 million ($425-480 million) in 2021. And according to the CEO, that’s rather conservative.
Northern Data, which is listed at the Frankfurt Stock Exchange (ticker NB2:GR) installs, operates, and monitors computing-intensive applications, such as blockchain, machine learning, gaming, big data analytics, and more. Moreover, with its AI solutions, it is able to set up HPC hardware 15 to 20 times faster than its competitors and control, manage, as well as operate hundreds of thousands of computers simultaneously.
According to the CEO of Northern Data, Aroosh Thillainathan, “[Northern Data is] constantly reviewing options to quickly secure additional sites through acquisitions in addition to building our own data centers.”
Because of access to large amounts of energy at very favorable rates, Northern Data is mainly running blockchain applications, such as Bitcoin mining for major international corporations, at its data center in Texas. That being said, the capacities of its data center in Norway, are about to be further expanded, and five new locations for high-performance computing and bitcoin mining will begin operations in Scandinavia in the coming months.
Profiting From Nature And Benefiting The Climate
There are a lot of potential sustainable power sources available all over the world. However, more often than not, they can’t be used for HPC purposes. This is because many of these unused natural energy sources aren’t located close enough to where the electricity is needed.
With its mobile high-tech data centers, Northern Data is able to use such energy sources profitably. By combining its data centers with smart concepts for energy provision, with climate neutrality and sustainability being the top priority, Northern Data’s infrastructure solutions offer additional crucial advantages over standard data centers. They are faster to set up and operate, and they have shorter planning times as well as high flexibility. Further, they are better for the climate.
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