{"id":11155,"date":"2021-09-28T10:57:18","date_gmt":"2021-09-28T09:57:18","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=11155"},"modified":"2021-09-28T10:57:26","modified_gmt":"2021-09-28T09:57:26","slug":"blockchain-firm-northern-data-to-acquire-33k-asic-miners-through-bitfield-acquisition","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/blockchain-firm-northern-data-to-acquire-33k-asic-miners-through-bitfield-acquisition\/","title":{"rendered":"Blockchain firm Northern Data to acquire 33K ASIC miners through Bitfield acquisition"},"content":{"rendered":"\n
Bitcoin <\/a>miner Bitfield has announced that it would be acquired by Northern Data, a blockchain and high-performance computing start-up.<\/h5>\n\n\n\n
\"Blockchain<\/figure>\n\n\n\n

An announcement made on September 27 stated that all key shareholders had signed a binding purchase agreement for the whole Bitfield firm, which was valued at around $460 million at the time of the signing. According to the terms of the agreement, Northern Data would acquire an equity interest in Bitfield \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>ranging from 86 percent to 100%.<\/p>\n\n\n\n

In addition to getting instant access to 6,600 active ASIC miners, Northern Data claims to have established itself as “a prominent worldwide Bitcoin mining company” as a result of the acquisition. <\/p>\n\n\n\n

By the beginning of the second quarter of 2022, it is estimated that an additional 26,000 brand-new miners will be deployed, largely in Canada <\/a>and the United States.<\/p>\n\n\n\n

As the company's founder and CEO, Aroosh Thillainathan said: “We are excited to be able to expand our Bitcoin mining business into three other areas: Bitcoin hosting and services, Altcoin <\/a>mining, and Cloud Computing.”<\/p>\n\n\n\n

For the year 2021, Norther Data Management forecasts revenues to be in the range of $210 million and $260 million, approximately.<\/p>\n\n\n\n

Mining difficulty for bitcoin <\/a>has increased significantly in recent months, rising from an all-time low of 85 million trillion hashes per second (TH\/s) on July 3 to a recent high of 140 million TH\/s on September 21. <\/p>\n\n\n\n

This is the highest level since early June, according to a seven-day average of bitcoin mining difficulty. As of this writing, the Bitcoin network has a total hash rate of 136 million transactions per second.<\/p>\n\n\n\n

Due to China's early crackdown on Bitcoin mining<\/a>, the difficulty of mining Bitcoin dropped as Chinese miners abandoned the network. However, the recent increase in the hash-rate indicates that Chinese miners are returning to the network.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin miner Bitfield has announced that it would be acquired by Northern Data, a blockchain and high-performance computing start-up. An announcement made on September 27 stated that all key shareholders had signed a binding purchase agreement for the whole Bitfield firm, which was valued at around $460 million at the time of the signing. According […]<\/p>\n","protected":false},"author":13,"featured_media":11157,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[2068,4677,202,4676],"class_list":["post-11155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asic-miners","tag-bitfield","tag-blockchain","tag-northern"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-280.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=11155"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/11155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/11157"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=11155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=11155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=11155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}