Peak Mining starts construction of next-gen 30MW mining facility in Grand Forks, North Dakota

PRESS RELEASE / IR NEWS

Peak Mining starts construction of next-gen 30MW mining facility in Grand Forks, North Dakota

• Expected to be fully operational in Q1 2024, the facility will be developed with direct-to-chip liquid-cooling technology
• Hash rate will expand to 1.1 EH/s with new M53-series miners from MicroBT
• The cooling system has been designed for maximum output, providing the option to supply excess heat to the local community in Grand Forks

Frankfurt/Main – 15 November 2023 – Today Peak Mining, a global Bitcoin mining company and part of Northern Data Group, has announced the start of construction for its 30MW facility in Grand Forks, North Dakota. Expected to be fully operational in Q1 2024, the site will feature direct-to-chip liquid-cooling technology.

The first batch of US-produced liquid-cooled M53S++ miners from MicroBT will be deployed in Grand Forks, following Peak Mining's recent USD 150 million purchase. Peak Mining will benefit from a significant increase in hash rate with much more efficient hardware.

The new building is designed and constructed from the ground up and will fully replace the existing mining infrastructure, allowing for expansion of the existing mining capacity, maximizing usage of the available power. Peak Mining are exploring options with the local community in Grand Forks to supply excess heat to the local community. The infrastructure and cooling system have already been designed to make this possible.

As experts in data center design, build, and management, the construction of the facility is managed by Ardent Data Centers, Northern Data Group's data center infrastructure business.

Niek Beudeker, Managing Director at Peak Mining, commented: “We're excited to be redeveloping and expanding our North Dakota location and installing market-leading infrastructure with the latest technology to accommodate our recently purchased top of the line hardware. The team at Ardent has done a great job to get us to this point. This project will set the standard for our future developments, which will accelerate the growth of both Peak Mining and Northern Data Group.”

Corey Needles, Managing Director at Ardent Data Centers, commented: “This will be our first build based exclusively on high-density liquid-cooling technology. The technology will significantly increase the operational and cooling capacity at the site, allowing for higher output and more efficient, clean, and quiet operations. We look forward to continuing to support Peak Mining in the future.”

About Peak Mining:

Peak Mining is powering the future of the Bitcoin network. Part of Northern Data Group, we deliver highly efficient 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.

About Ardent Data Centers:

Ardent Data Centers provide future-ready data centers which are purpose built to power the next generation of HPC. Part of the Northern Data Group, we house the industry's latest chips, combined with the latest liquid cooling systems to offer more power and better availability of on demand, compute-as-a-service infrastructure. With a proven track record of designing and operating high-performance data centers for over twenty-five years, we’re pioneering a new era of efficiency, delivering greater performance, density and availability.

About Northern Data Group:

Northern Data Group (ETR: NB2) is a provider of energy efficient High Performance Computing (HPC) infrastructure 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 infrastructure, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our partnerships with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA are fundamental to the acceleration of innovation across sectors including life sciences, financial services and energy.

Investor Relations:
Jens-Philipp Briemle
Head of Investor Relations
An der Welle 3
60322 Frankfurt am Main
E-Mail: jens-philipp.briemle@northerndata.de
Telefon: +49 171 557 6989