Northern Data Lefdal: Northern Bitcoin scales the Lefdal deployment

Frankfurt am Main, Germany / Lefdal, Norway – Northern Bitcoin AG (XETRA: NB2, ISIN: DE000A0SMU87) has begun the scaling of its sustainable mining activities. At its first location in Lefdal, Norway, with 15 mobile containers already in operation, the company has now taken 6 additional containers into operation. The commissioning of the additional containers marks the beginning of a global scale-up in which Northern Bitcoin will build massive Bitcoin mining capacities at its site in Lefdal as well as at additional sites in Norway and other countries.

After the successful development and initial deployment of mobile mining containers in the past financial year, Northern Bitcoin has focused on improving the hardware and software for rapid scaling, preparing partnerships with the industry’s leading players and identifying additional locations where Bitcoin mining can be carried out CO2-neutrally and cost effectively.

“We are very pleased that the global scaling of our mining activities has now begun,” says Moritz F. Jäger, CTO of Northern Bitcoin AG. “At our first site, the Lefdal mine in Norway, we are benefiting from excess hydropower energy that enables us to mine CO2-neutral Bitcoins. In this way, we significantly contribute to the sustainable development of Bitcoin and can further establish ourselves as a leading company in sustainable Bitcoin mining”.

Northern Bitcoin AG started sustainable Bitcoin mining in 2018 at its first site at the Lefdal mine in Norway. The location is ideal for the company: the former olivine mineral mine has been converted into a high-performance data center and has a number of factors that dramatically reduce the operating costs of Bitcoin mining. The mine is located deep in a mountain directly next to the Nordfjord, whose 8°C cold water is used during the entire year by an innovative system for cooling the mining hardware. This reduces operating costs by up to 40 percent compared to similar data centers. The electricity comes from regenerative sources from surrounding hydropower plants which provide surplus energy at Europe’s lowest electricity costs.

Parallel to the scaling of mining activities at the Lefdal Mine in Norway, Northern Bitcoin is preparing further sites, some of which are soon to be started up and also meet the company’s sustainability criteria.