Blockchain and high operation computing firm Northern Data has appear it will acquire Bitcoin miner Bitfield.

Co-ordinate to a Monday press release, all major shareholders signed a binding purchase agreement for the entire Bitfield enterprise to be sold at a value of roughly $460 million. Northern Data will acquire an equity interest of between 86% and 100% in Bitfield equally per the agreement.

Northern Data claims it has become "a leading global Bitcoin mining company" through the conquering, with the house gaining immediate access to 6,600 operational ASIC miners. A further 26,000 brand-new miners are expected to be deployed primarily at sites in Canada and the U.s.a. past the first of Q2 2022.

"With this conquering, nosotros add Bitcoin mining to our iii existing businesses — Bitcoin hosting and services, Altcoin mining and Deject Computing" said Aroosh Thillainathan, founder and CEO of Northern Data AG.

Norther Data Management expects revenues to exist betwixt $210 million and $260 million in 2022.

Related: Bitcoin miner Greenidge set for Nasdaq listing through merger

Bitcoin mining difficulty surged over the last ii months from a year low of 85 one thousand thousand terahashes per second (Thursday/s) on July iii to a local loftier of 140 million Thursday/due south on Sept. 21, according to a seven-day average — its highest level since early on June. The total hash rate of the Bitcoin network is 136 million equally of this writing.

After China'southward initial crackdown on Bitcoin mining, the difficulty of mining Bitcoin plummeted as Chinese miners left the network just the recent climb of the hash rate proves that miners are getting back online.