Northern Data AG acquires Bitcoin Miner Bitfield-33,000 miners benefit from Stock-for-Stock-Deal-Mining Bitcoin messages

On Monday, the provider of high-performance computing (HPC) infrastructure and Bitcoin mining company Northern Data AG announced the takeover of the Bitcoin mining company Bitfield NV as part of a stock-for-stock deal. Northern Data says that the company will receive 33,000 ASIC Bitcoin miners from the agreement from the agreement.

northern Data AG acquires Bitfield NV - company receives immediate access to the usable ASIC mining rigs

The hashrate of the Bitcoin network hovers just above the 140 exaHash per second (eh/s) at the time of writing. Bitcoin mining has become incredibly competitive and the company is trying to be more energy-efficient. In 2021 there was a and Akquisitions of thousands ASIC-Bitcoin miner. On September 27, the HPC infrastructure provider and Bitcoin mining company northern Data AG announced the takeover of the operation bitfeld .

The takeover will enable Northern Data to get 33,000 ASIC-Bitcoin miners via the deal. "Northern Data will acquire a participation of up to 100 % (but no less than 86 %) to Bitfield NV at a total company value of up to around EUR 400 million and has now signed binding purchase contracts with the major shareholders", companies announced.

northern data will receive immediate access to Bitfields that can be used asic mining rigs and current hardware, including "over 6,600 high-performance asic miner already in operation".

"The commissioning plan for the use of further 26,000 brand new miners, mainly at locations in North America, is expected to be completed by the end of the first quarter of 2022," said Northern Data.

Stock-for-Stock transaction: The output of up to 5.1 million shares of Northern Data AG

The transaction between the two parties will be a "stock-for-stock transaction with the output of up to 5.1 million shares in Northern Data AG". All Bitcoin mining sites are “mainly” in “Canada and the USA”, according to the announcement of Monday. The company plans to "increase the number of ASIC miners and GPU server systems in the future".

"The takeover of Bitfield is an important pillar of our scalable growth strategy," said Aroosh Thillainathan, founder and CEO of Northern Data AG, in a statement to Bitcoin.com News. "With this acquisition we complement our three existing business areas-Bitcoin hosting and services, altcoin mining and cloud computing-with Bitcoin mining and achieve an even greater increase in value, not least because of the development of mining redematability."

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