United

Artificial Intelligence

Bitcoin

Northern

Northern Data, a top Bitcoin mining firm 2023 financial outcomes recently released financial outcomes that have drawn the interest of market players. This result highlights that the firm’s financial growth is on an upward bullish trajectory.&nbsp;
<h2 id="b-2023-financial-results-beats-expectations-b">2023 Financial Results Beats Expectations</h2>
The Frankfurt-based Bitcoin miner had previously projected to reach a sale peak of £75 million by the end of 2023. But to its greatest surprise, it had tripled this expectation.&nbsp;
This significant milestone prompted the firm to aim for higher revenue growth of £200 million to £240 million for 2024, a substantial rise from 2023 financial revenue. Notably, the firm was <a href="https://thecoinrise.com/crypto-miner-northern-data-expects-206m-as-revenue-in-2022/" rel="noopener noreferrer nofollow">reported to have hoped to raise $204 million in revenue in 2022</a>. In addition, it expects to reach a tenfold surge of £570 million by 2025.&nbsp;
<h2 id="b-northern-data-mulls-ipo-launch-for-2025-b">Northern Data Mulls IPO Launch for 2025&nbsp;</h2>
The Bitcoin miner revealed that this set goal is fueled by its venture into high-performance computing and AI cloud services. Notably, the firm is currently operating a large-scale crypto-mining facility in Europe and the United States.&nbsp;
But to gain access to the capital markets and attract more investors, the firm is making strategic moves to go public in the U.S. through an initial public offering (IPO) possibly by the end of 2025. Similarly, <a href="https://thecoinrise.com/kraken-eyes-100-million-in-pre-ipo-fundraising-as-market-rebounds/" rel="noopener noreferrer nofollow">Kraken, a top trading platform, plans to raise $100 million in a pre-IPO round</a>, with the aim to go public next year.&nbsp;
Before the firm expanded into AI, its main focus was on mining Ethereum. But Ethereum’s software update in 2022 had affected its revenue and that of Northern Data. Contributing to this was the legal issues it faced concerning funds misappropriation by its ex-staffs, however, the Bitcoin miner strongly refuted the allegations. This prompted the company to diversify into AI and high-performance computing to explore new opportunities.
<h2 id="b-ai-to-revolutionize-the-crypto-world-b">AI to Revolutionize the Crypto World&nbsp;</h2>
The massive adoption of AI in the crypto industry has not gone unnoticed. The <a href="https://thecoinrise.com/top-ai-crypto-coins-to-invest-in-this-bull-run/" rel="noopener noreferrer nofollow">integration of AI </a>into trading platforms has been seen to improve traders’ user experience and to help investors make informed information.&nbsp;
Impressively, at the World’s Fintech award ceremony held recently, AI was the key theme of the event. Similarly to the Northern Data move, <a href="https://thecoinrise.com/robinhood-acquires-ai-powered-investment-research-firm-pluto/" rel="noopener noreferrer nofollow">Robinhood has expanded operations into the innovative world of AI</a>. Impressively, <a href="https://thecoinrise.com/fetch-ais-rally-prospects-dim-dogecoin-and-promising-ai-altcoin-listing-on-uniswap/" rel="noopener noreferrer nofollow">Fetch.ai,</a> a blockchain platform that uses AI to help people automate everyday tasks has recently combined blockchain technology with AI and machine learning capabilities.&nbsp;
The post <a href="https://thecoinrise.com/northern-data-forecast-triple-revenue-growth-amid-ai-expansion/" rel="noopener noreferrer nofollow">Northern Data Forecast Triple Revenue Growth Amid AI Expansion</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Northern Data Forecast Triple Revenue Growth Amid AI Expansion

Table of Contents

TheCoinrise Media

Other articles published on Jul 12, 2024

Politician Pepe (POLPEPE) Memecoin Buyer Secures Over 400% Profit, But Waits For 18,000% Rally Am...

Paxful Co-Founder Faces 5-Year Jail Sentence. Here’s Why

CoinWire Expects $108 Trillion Crypto Trade

Best Airdrops with Simple Steps

Bitget Capital Inflow Hits $700M in Q2; 2.9M New Users Added

Next Breakout Crypto: BlockDAG’s $57.4M Presale Takes it Above Optimism and Arweave Price Predict...

Join our free newsletter for daily crypto updates!