In the news release issued by Northern Data Group over PR
Newswire on May 24, 2024 , we are
advised by the company that several updates are needed to the
release. The complete, corrected release follows:
Northern Data Group's Peak Mining purchases a second 300MW data
center location in Corpus Christi, Texas
- The location expands on an adjacent 300MW site, purchased in
December 2023
- The site comes with an ERCOT-approved interconnect of
300MW
- Construction already underway, with long-lead
time items secured and energization scheduled for early
2025
FRANKFURT,
May 24,
2024 /PRNewswire/ -- Peak Mining, part of the
Northern Data Group, announces the purchase of a second 300MW
ERCOT-approved site in Corpus Christi,
Texas. The location is adjacent to Peak's first 300MW mining
facility already under construction. The site will operate in the
attractive Load Zone South of the ERCOT grid, known for its
abundance of renewable (wind) energy.
The investment represents a significant step
forward in Northern Data Group's investment strategy, cementing
expansion plans well beyond the current 2024 financial year.
The new site enables Peak Mining to accelerate
its ambition to become one of the largest bitcoin miners globally.
The company will be deploying indoor, custom-designed, fully
integrated, and liquid-cooled HPC data center systems to
drastically improve deployment time and lower infrastructure
costs.
Saxet Infrastructure Group ("Saxet") will serve
as construction manager for the additional Corpus Christi project and oversee the design,
build, and energization of the substation and basic infrastructure
for the second phase. The Saxet team brings a strong
track record of project management and deep expertise with HPC
infrastructure.
Niek Beudeker,
Managing Director, Peak Mining, commented:
"The purchase of this second large site will
significantly shorten our time to hashing and kick off one of the
fastest mining expansions globally. We now have almost 700MW of HPC
data centers in active construction or development that, when fully
deployed with our latest-generation hardware, could potentially
provide up to 40EH of hash rate."
Aroosh Thillainathan, Northern Data Group's
Chief Executive Officer, commented:
"This second large data center location
demonstrates how Northern Data Group is able to harness the power
and opportunity of HPC. We are at the forefront of a high-growth
HPC era, and this acquisition is a significant step towards our
growth ambitions."
Steven Quisenberry, Chief
Executive Officer at Saxet Infrastructure
Group, commented:
"We are excited to expand our relationship
with Peak Mining and support Northern Data Group in its growth
plans. Northern Data Group is leading the way with a focus on
industrial scale HPC and we are aligned to that goal."
Northern Data Group was advised on
the transaction by Katten Muchin Rosenman LLP
(Legal Counsel), BitOoda Technologies LLC and Cohen
& Company Capital Markets, a division of J.V.B. Financial
Group, LLC (Finance and Strategic Advisory). MJC Partners, LLC
served as exclusive financial advisor to the sellers.
About Peak Mining
Peak Mining, part of the Northern Data Group, is
powering the future of the blockchain network. We deliver
industry-leading operating and energy efficiency in bitcoin mining
through the latest hardware alongside innovative technology and
infrastructure. With our mining heritage dating back to 2013, we've
been innovating for over a decade and have been at the forefront of
the industry ever since. Our high-quality infrastructure is
purpose-built to power the mining network, and we're driven to
continuously find new efficiencies driving value for our investors.
We're delivering long term value in more responsible ways.
About Northern Data Group
Northern Data Group (ETR: NB2) is a leading
provider of High Performance Computing (HPC) solutions to
businesses and research institutions, utilizing GPU- and ASIC-based
solutions. Our flexible compute power fuels innovation in our three
core business divisions: Taiga
Cloud, Ardent Data Centers, and Peak Mining. Through our HPC
solutions, we pioneer ambitious computing innovation that drives
progress in the AI, ML and Generative AI industries. Our close
collaboration with industry-leading manufacturers including
Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of
innovation across sectors including life sciences, financial
services, and energy.
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