Bitcoin

Northern

In a bold move affirming its commitment to Bitcoin mining, Northern Data AG, a prominent German data center operator, has purchased a 33-acre, 300-megawatt (MW) site in Corpus Christi, Texas. The deal, executed through its subsidiary Peak Mining, marks a significant expansion of Northern Data's mining operations in the <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/" rel="noopener noreferrer nofollow">U.S.</a>, though the investment amount remains undisclosed, according to <a href="https://www.forbes.com/sites/johnkoetsier/2023/12/09/space-heater-offers-50-cash-back-on-heating-by-training-ai-in-your-home/?sh=48fea4de72c5" rel="noopener noreferrer nofollow">Forbes</a>.
This strategic acquisition is timed ahead of the anticipated Bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>, with the first construction phase aiming to operationalize 100 MW of mining capacity in Q1’24. Northern Data's new Texas site boasts a private substation and access to the real-time energy market at the Load Zone South of ERCOT, Texas' electrical grid operator.
Following closely on the heels of acquiring a 30 MW site in North Dakota, Northern Data's latest venture in Texas underscores the company's aggressive growth in the North American market. Both sites are expected to be fully operational in the first quarter of 2024.
The initial power capacities at these sites are designated for housing the 7 EH/s of <a href="https://ultramining.com/en/manufacturers/microbt/" rel="noopener noreferrer nofollow">WhatsMiner</a> equipment, a $150 million investment previously preordered from <a href="https://ultramining.com/en/manufacturers/microbt/" rel="noopener noreferrer nofollow">MicroBT</a>. Additionally, Northern Data has secured an option from MicroBT for another $150 million worth of WhatsMiners, aiming to fully utilize the Texas site's 300 MW capacity.
This expansion is part of a larger trend among institutional Bitcoin <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/" rel="noopener noreferrer nofollow">mining companies</a>, who have collectively invested over $1.2 billion in the latest generation of mining <a href="https://ultramining.com/hardware/" rel="noopener noreferrer nofollow">hardware</a> this year. The surge in hardware acquisitions necessitates corresponding investments in data center infrastructure to ensure full operational capacity.
Northern Data's latest acquisition in Texas not only represents a significant milestone for the company but also reflects the growing institutional interest and investment in the field of Bitcoin mining. As the industry prepares for the upcoming halving, such strategic expansions are likely to play a crucial role in shaping the future of Bitcoin mining.&nbsp;

Northern Data’s Texas Triumph: A 300 MW Bitcoin Mining Powerhouse

Ultramining_Eng

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