German Miner Northern Data’s Shares Jump Following Operational Update

Northern Data shares climbed Wednesday after the provider of crypto mining infrastructure announced it had generated 26,554 ether in August-December 2021 and 666 bitcoins between September and the end of the year.

• The Frankfurt-listed firm, which provides computing services to miners, enjoyed a lift of nearly 8.4% on Wednesday morning to €77.80 ($88) before retreating.
• In December alone it produced 227 bitcoins and 5,740 ether. Northern Data said the ether were generated “almost exclusively” with renewable energy.
• In April, Northern Data sold its data center operations in Texas to Riot Blockchain for $651 million. In September it bought crypto miner Bitfield for about €400 million ($450 million.)
• Backed by Block.One and Christian Angermayer’s Cryptology Asset Group, Northern Data has previously been subject to accusations of market manipulation by Germany’s financial regulator BaFin related to its acquisition of Texas mining facility Whinstone in 2019. Northern Data rejected the accusations.

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