Discover and read the best of Twitter Threads about #NorthernData
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#NorthernData published several press releases since the BOY, but omitted most of the relevant information.
The company missed its already lowered guidance, is sued by $RIOT for $114m and auditors issued a going concern warning
The company missed its already lowered guidance, is sued by $RIOT for $114m and auditors issued a going concern warning
$NB2 guided 100k ASIC miners for 2022, 200m to 250m revenue and adj EBITDA (excl. trading losses) of up to 75m. They missed all of them. Only the mined BTC were slightly above the lower end of the guidance 
Partners cut ties with #NorthernData which leads to a revenue decline of at least $25m. On top, $RIOT is suing Northern Data for $114m, the #Bafin and public prosecutors are investigating the company.
🧵1/Ω
It should surprise no one that @Bullish, an offshore exchange backed by the #EOS scammers at Block.One, uses $SI for banking.
It should surprise no one that @Bullish, an offshore exchange backed by the #EOS scammers at Block.One, uses $SI for banking.
🧵2/Ω
Nor would it surprise anyone to know that as of Nov. 24th a little over 1/6th of $SI (16.73%) was owned by #B1 CEO #BrendanBlumer and @B1 itself.
b1.com/press/b1-acqui…
Nor would it surprise anyone to know that as of Nov. 24th a little over 1/6th of $SI (16.73%) was owned by #B1 CEO #BrendanBlumer and @B1 itself.
b1.com/press/b1-acqui…
#NorthernData is quite talkative about its acquisitions. Yet, one acquisition of a related party it did not tell investors is the one of Swiss Hashtrend AG in 2020. A 🧵, respective sources numbered in brackets.
Founded in 2018, Hashtrend (HT) was a crypto-mining venture led by Northern Data’s (ND) current CEO and CTO [1]. HT held a 20% stake in Whinstone at the time it merged with ND in early 2020 through which it became a material shareholder in ND, owning more than 700k shares.[2]
HT had a subsidiary, Aliviar GmbH, developing a mining management software Steiger [3]. Steiger seems to be employed until today. Logs of the documentation show that copyright changed from Hashtrend to ND subsidiary Northern Data Software GmbH in Jan 2021
bitbucket.org/steigerapp/ste…
bitbucket.org/steigerapp/ste…
