Northern Knowledge AG, a German firm that makes a speciality of Bitcoin mining and cloud computing, launched its December 2022 outcomes for its mining division.

In keeping with Northern Knowledge AG, within the fiscal yr 2022, it mined a complete of two,798 BTC, a major enhance of 315% in comparison with the earlier yr. This led to BTC mining revenues of EUR 77.7 million within the fiscal yr 2022. The common sale value of the three,005 BTC mined and offered in 2022 was EUR 23,849, contributing to a money income of EUR 71.7 million.

The info launched by Northern Knowledge additionally indicated that it had roughly 3.6 EH/s of computing energy devoted to BTC mining. Moreover, the corporate stated it “expects unaudited consolidated revenues within the vary of EUR 190-194 million and EBITDA adjusted for the buying and selling loss from the sale of cryptocurrencies of EUR 40-50 million (unaudited) for fiscal 2022.”

Nonetheless, December 2022 was a difficult month for Northern Knowledge. The corporate mined a complete of 177 Bitcoin, which was a 25% YoY lower, and a 15% MoM lower. This was attributable to excessive power costs, notably in Europe, which brought on the deployed ASIC machines in Europe to have set quantities of “down time” the place they wereunable toproduce constantly.

Regardless of the challenges, the agency is within the technique of relocating its ASIC machines to “power value optimized areas”, to make sure manufacturing stability and optimum capability utilization, toreach its focused manufacturing of 350 BTC per thirty days.

Public Bitcoin mining corporations plagued with $4B of collective debt

On Jan 6, Cointelegraph reported that one of many largest Bitcoinmining operations in North America, Marathon Digital Holdings, has been experimenting with overclocking to extend its aggressive benefit within the BTC mining business.

In keeping with an replace issued by Marathon Digital Holdings, it produced 475 BTC in December 2022, bringing its complete mined Bitcoin within the fiscal yr of 2022 to 4,144 BTC, a 30% enhance from the three,197 BTC produced in 2021.

Just lately, some Bitcoin mining corporations have confronted challenges as a result of rising issue of mining and the value of electrical energy. This has brought on a decline in mining profitability and led some miners to close down their operations. Whereas, others have reported important income progress and enhance in mining energy, thanks to raised mining {hardware} and mining software program optimization.