Technology

Northern Data Group announces Q2 Results, reaffirms 2024 guidance

Published

5 months ago

August 6, 2024

The Group reports Q2 revenue of EUR26 million, up 22% year-on-year, for a combined H1 2024 revenue of EUR55 million, up 49% year-on-year, with break-even adjusted EBITDACloud* Q2 Revenue was EUR12 million, up 236% year-on-year and up 56% from Q1, driven by onboarding clients to newly deployed NVIDIA H100 GPU infrastructureHPC infrastructure expansion continues at pace during H2:More than 12,000 NVIDIA H100 GPUs now live, and deployment remains on trackPittsburgh, Pennsylvania data center retrofit in progress on 20MW facilityParaguay mining site live, with Corpus Christi, Texas coming online in Q3, and remains on track to deliver expected 7.9Ehs by year-endOn track to meet FY 2024 revenue target of EUR million 200 – EUR240 million up 200% YOY and adjusted EBITDA of EUR50 million – EUR80 millionCapital raise of EUR214 million announced in July which will fund further strategic investments

FRANKFURT, Germany, Aug. 6, 2024 /PRNewswire/ — Northern Data AG (ETR: NB2) (“Northern Data Group” or “the Group”), a leading provider of High-Performance Computing (HPC) solutions, today announces its Q2 results, and reaffirms its 2024 full-year guidance.

Northern Data Group achieved revenue of EUR26 million during Q2, driven by strong performance from the Group’s Cloud platform and strategic investments in its Data Center footprint and Mining facilities. With a combined H1 revenue of EUR55 million, up 49% year on year, the Group is well-positioned to deliver on its 2024 commitments and capitalize on the growing demand for HPC driven by the Generative AI boom.

Q2 saw momentum in the significant rollout of Northern Data Group’s NVIDIA H100 GPUs, with customers now fully operational on the platform. This rollout and the successful onboarding of key clients helped drive the performance of the Group’s Cloud platform, whose revenue accounted for 46% of Group revenue for the quarter.

Northern Data Group is on track to deliver full year 2024 revenue of EUR200 million – EUR240 million – tripling that of 2023 – and supporting the Group’s expectations of revenues of EUR520 million – EUR570 million in full-year 2025. Adjusted EBITDA for 2024 is expected to be in the range of EUR50 million – EUR80 million.

Operational developments building solid foundations for growth

Further geographical expansion and strategic partnerships, as well as the launch of Northern Data Group’s AI Accelerator, underpinned the Group’s performance in Q2. Strategic investments across core business segments continue to strengthen the Group’s ability to meet growing HPC demand and broaden its presence in the growing AI ecosystem.

Cloud – Acquired NVIDIA H200s, further expanding GenAI offering and demonstrating commitment to providing best in class hardware. Announced strategic partnership with VAST Data to deliver scalable cloud services to Europe powered entirely by 100% carbon-free energy.Data Centers – Broke ground on recently acquired data center in Pittsburgh, Pennsylvania, to be retrofitted into a cutting-edge, high-density data center environment. Multiple other acquisition prospects are in Due Diligence.Mining – Announced partnership with Penguin Infrastructure, adding 28MW of mining capacity powered by 100% renewable energy, in addition to the purchase of a second 300MW ERCOT-approved site in Corpus Christi, Texas.

Post period end

Plans for full deployment in 2024 remain on track. The Group also secured a capital increase with gross proceeds of EUR214 million in July, which will fund further strategic investments.

In order to ensure further growth, the management of Northern Data Group regularly examines all financing and other options both at the Group level and subsidiary level. This includes, in addition to possible further measures for equity or debt financing, the exploration of a possible listing of the Group on an alternative exchange and listings or disposals of its subsidiaries. This could in particular facilitate access for international investors, increase transparency and reflect the successful development of Northern Data Group as a leading technology company. However, no decision regarding any such possible measures has yet been made.

Aroosh Thillainathan, Founder and CEO, Northern Data Group, commented:

“The Group has made significant progress in the first half of 2024 in augmenting our HPC leadership position, while also leveraging strategic investments and partnerships to boost our Cloud, Data Center, and Mining capabilities.

In Q2, our deployment of NVIDIA H100 GPUs and successful onboarding of customers has put us on track to execute on our 2024 deployment plan and meet our 2024 financial guidance. We are well capitalized heading into the second half of the year, and are continuing to build sophisticated and scalable operations to support the growing demand for HPC and the Generative AI boom in 2024 and beyond.”

*Cloud including Data Center

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 platforms: 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.

Disclaimer:

This IR release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking statements.

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Technology

ZT Mining Pioneers Innovative Solutions in the Cloud Mining Industry

Published

7 hours ago

December 28, 2024

ZT Mining launches user-friendly cloud mining services with free options, renewable energy integration, and educational resources, promoting sustainable cryptocurrency mining.

READING, England, Dec. 28, 2024 /PRNewswire-PRWeb/ — As the cryptocurrency industry grows, the demand for accessible and efficient mining solutions has never been higher. ZT Mining, a leading innovator in cloud mining, announces a new range of services designed to democratize access to cryptocurrency mining while addressing environmental concerns.

free cloud mining site, best cloud mining, crypto mining

Cloud Mining Made Simple

ZT Mining provides a platform for users to mine Bitcoin and other cryptocurrencies without the need for specialized hardware or technical expertise. By simplifying the process, the company caters to a broad audience, from crypto enthusiasts to first-time investors. Its streamlined registration and user-friendly interface allow participants to start mining in minutes.

Free Cloud Mining Option for Starters

The platform introduces free cloud mining opportunities, enabling users to begin their mining journey without upfront costs. This initiative lowers barriers to entry, making it easier for individuals to explore the cryptocurrency space.

Sustainability at the Core

Recognizing the environmental impact of traditional mining, ZT Mining incorporates renewable energy into its operations. By leveraging green energy sources, the company reduces its carbon footprint, aligning with global sustainability goals.

A Trusted Name in Cloud Mining

ZT Mining emphasizes transparency and reliability. Contracts come with clear terms, competitive rates, and no hidden fees. The platform also offers robust security measures, ensuring user data and funds remain protected.

Empowering Users Through Education

To support informed decision-making, ZT Mining provides educational resources on cryptocurrency and cloud mining. Users can access guides and insights to better understand mining profitability and industry trends.

Industry Recognition

ZT Mining’s innovative approach has positioned it as one of the best cloud mining platforms in the industry. With endorsements from leading crypto analysts and positive user feedback, the company is quickly becoming a trusted name for mining solutions.

Looking Ahead

ZT Mining continues to innovate, aiming to provide even more opportunities for users to benefit from cloud mining. With plans to expand its renewable energy partnerships and introduce advanced mining algorithms, the company is setting the standard for sustainable and user-friendly cryptocurrency mining.

For more information, visit ZT Mining’s official website.

Media Contact

Nancy Delia, ZT CLOUD SERVICES LIMITED, 44 7301463290, nancy.delia@ztmining.com, https://ztmining.com

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SOURCE ZT CLOUD SERVICES LIMITED

Technology

UBHOME Collaborates with Qualcomm to Release the Smart Lawn Mower, Co-Creating a New Era of Smart Life

Published

12 hours ago

December 28, 2024

The 2025 CES in the United States is about to unveil a brand-new chapter in the future intelligent home gardening

LAS VEGAS, Dec. 28, 2024 /PRNewswire/ — UBHOME, a sub-brand of UBTECH Robotics, announced an intelligent service robot in collaboration with Qualcomm Technologies, Inc. The Robotic Mower M10 is a revolutionary smart lawn mower announced at the 2025 International Consumer Electronics Show (CES) in the United States. This product is powered by the Qualcomm® RB1 Robotics Platform, showcases UBHOME’s rich experience in robot research and development, and focuses on solving the pain points of traditional lawn-mowing equipment, providing users with a worry-free and labor-saving smart gardening experience, and creates a new model of gardening intelligence.

User-Oriented: The All-New Convenience Brought by the Smart Lawn Mower to Life

The Robotic Mower M10 is not only a high performance tool but also an upgrade of the smart lifestyle. In response to the pain points of users when using traditional lawn-mowing equipment, this product offers a series of practical functions, bringing brand-new convenience to home gardening:

Wireless and Borderless Mowing: There is no need for cumbersome boundary wire installation anymore. The device relies on accurate environmental perception and navigation technology to independently plan the work area, allowing users to use it right out of the box, saving installation time and energy.

Automatic Mowing, Saving Time and Effort: The device can automatically complete the lawn mowing work according to the preset schedule or real-time instructions, enabling users to manage the lawn care through delegation to the mower.

Wide Coverage and Stable Signal: It supports a large-scale signal connection of up to 130,000 square meters. Even for extremely large courtyards, stable operation can be ensured, and there is no need to worry about signal loss.

Real-time Online, in-control Anytime: Through APP remote control and real-time monitoring, users can adjust the mowing plan or check the device status at any time, managing the courtyard work as they like.

The combination of these functions not only greatly simplifies the complexity of mowing work but also liberates users from repetitive physical labor, allowing them to focus on enjoying the wonderful moments of life.

UBHOME: In-depth Layout in Smart Home

UBHOME is a brand under UBTECH Robotics that focuses on providing smart solutions for families. As a world-leading robot enterprise, UBTECH, with its strong R&D strength and technological accumulation, has successfully launched Walker, China’s first commercial bipedal human-sized humanoid robot. The launch of the Robotic Mower M10 by UBHOME this time is an important step in its layout in the smart home field.

Relying on UBTECH’s technological accumulation in robots and its in-depth understanding of user needs, the Robotic Mower M10 achieves the best mowing effect through environmental recognition and dynamic adjustment. Whether it is complex terrain, steep slopes, or high requirements for fine mowing, it can perform perfectly, demonstrating its excellent technical capabilities and brand commitment.

As a global leader in wireless technology and edge intelligence, Qualcomm Technologies provides cutting-edge technical support for the Robotic Mower M10, including intelligent edge computing platforms, dynamic path planning, and environmental perception technologies. These technologies ensure that the device can operate efficiently in various environments, providing users with a precise and efficient smart experience. The Robotic Mower M10 utilizes the Qualcomm RB1 Robotics Platform to ensure the superior operation of the Robotic Mower M10 in large-scale courtyards, laying a solid foundation for realizing smart life.

Industry Significance and Trend: Promoting the Development of Gardening Intelligence

With the continuous increase in the demand for home intelligence, the market for smart gardening equipment is in a period of rapid development. As a typical representative of this trend, the smart lawn mower not only meets consumers’ pursuit of a convenient lifestyle but also provides a direction for the transformation of the gardening industry from tool manufacturing to smart services.

The product released by UBHOME not only fills the gap in the high-performance lawn-mowing equipment market but also sets a new industry benchmark. Through the multiple advantages of wireless, real-time connection, and fully automated operation, it endows home gardening with new value, making users no longer regard mowing as a burden but feel the convenience and fun brought by technology.

Innovation Hand in Hand, Co-creating Smart Life

The collaboration between UBHOME and Qualcomm Technologies showcases a strong collaboration of technology and innovation. Both parties are committed to bringing more convenient and efficient life experiences to consumers through technological innovation.

At the 2025 CES, UBHOME and Qualcomm Technologies will showcase the innovative functions and application scenarios of this Robotic Mower M10.

About UBHOME

UBHOME is a brand under UBTECH Robotics, focusing on providing smart solutions for families. UBTECH is a world-leading robot enterprise dedicated to the research and development and application of artificial intelligence and robot technology and has successfully served more than 900 enterprise-level customers in more than 50 countries around the world.

Media Contact Information
For more information, please contact:
UBHOME Brand Team: mbu-sales@ubtrobot.com

Qualcomm is a trademark or registered trademark of Qualcomm Incorporated. Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. 

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SOURCE UBTECH ROBOTICS CORP LTD

Technology

Global Launch of JETOUR T2 i-DM: Reshaping the Hybrid SUV Market

Published

12 hours ago

December 28, 2024

DOHA, Qatar, Dec. 28, 2024 /PRNewswire/ — On December 25, 2024, the First JETOUR Fan’s Festival and the Launch of T2 i-DM was held in Qatar, themed “Think Future”. During the event, JETOUR launched its user brand “Traveler” in the Middle East and its first hybrid model, JETOUR T2 i-DM. The launch event highlights JETOUR’s commitment to exploring sustainable travel modes and ambition to become the “The World’s Leading Brand in Hybrid Off-road Vehicles” under the “Travel+” strategy.

JETOUR T2 i-DM not only inherits the strengths of T2 series, but also achieves high energy efficiency, high performance, high safety, and high intelligence with its advanced hybrid technology, i-DM. With a maximum combined power of 280kW and torque of 610N•m, T2 i-DM boasts a NEDC pure electric range of 139km and an overall range exceeding 1,000km at just 0.8L/100km, addressing range anxiety and promoting green travel.

Mr. Dai Lihong, executive vice president of JETOUR Auto, emphasized technology’s role in producing world-class products. The launch also introduced “Traveler”, enriching user experience through diverse products and superior performance. This year, JETOUR has ranked third in sales across the Qatari auto market. The Fan’s Festival invited user representatives from across the Middle East to witness the unveiling of “Traveler”, experiencing “Travel+” culture through city tours and co-creation workshops.

JETOUR prioritizes users, listening to their needs and co-creating products, brand, and lifestyle. Through “Traveler,” JETOUR aims to provide richer travel experiences and benefits globally, leveraging the platform to spread the “Travel+” culture worldwide. Mr. Alex Tan, Vice President of JETOUR International, said, “Serving ‘JETOUR users’ and being ‘a user-oriented JETOUR’ are JETOUR’s development philosophy. JETOUR will continue to build a travel community centered around users, cars, and lifestyles, sharing the joy of traveling together with users.”

JETOUR also partnered with Diamond League to promote athletics in Qatar and the Middle East, embodying JETOUR Speed and the brand’s image of breakthroughs and innovations. With T2 selling over 150,000 units globally, T2 i-DM will continue its success to meet customers’ needs and reshape the hybrid SUV market.

The launch of T2 i-DM marks JETOUR’s new journey towards “the World’s Leading Brand in Hybrid Off-road Vehicles.” JETOUR plans to introduce more hybrid and off-road models, providing customers with eco-friendly and diversified travel choices. With its innovative spirit and user-oriented philosophy, JETOUR will lead the global automotive industry towards a more sustainable and smarter future.

SOURCE JETOUR AUTO