Bitcoin mining company suffered a huge loss due to fraud allegations. A published blog post left the company in a very difficult situation.
Bitcoin mining company: Northern Data
Europe-based Northern Data, a bitcoin miner, is known for its innovative solutions in the industry. Northern Data, however, remained in a very difficult situation due to new claims.
In an article published on Medium, the stock value of Northern Data was almost a crush. The article stated that the company changed its accounting records and reached unconscious customers in the cryptocurrency sector and achieved a maximum profit with a gross profit rate of 40 percent.
These published claims left the company in a rather difficult situation. According to data shared by Bllomberg, Northern Data shares fell from 79 euro levels to 47 euro levels. Thus, the share value of the company fell more than 40 percent in a few days. In the statement made by Northern Data on the subject, it was stated that a transparent policy was followed as much as possible.
The company was especially prominent with HPC / AI high-performance computing solutions. It is already wondering how Northern Data will get rid of these claims.