Northern Data AG
NORTHERN BITCOIN EXPANDS EXECUTIVE BOARD

PRESS RELEASE

NORTHERN BITCOIN EXPANDS EXECUTIVE BOARD

– Experienced Whinstone Management complements the Executive Board

– Aroosh Thillainathan appointed new CEO

– New management structure in line with corporate growth

Frankfurt on the Main – November 25, 2019 – Northern Bitcoin AG (XETRA: NB2, ISIN: DE000A0SMU87) plans to expand its Executive Board as part of the merger with its US competitor Whinstone. Henceforth, Aroosh Thillainathan, Co-Founder and Managing Director of the Whinstone Group, will lead Northern Bitcoin AG as CEO. Support on the Executive Board will come from COO Julian Handte and CTO Andreas Lange, Northern Bitcoin’s previous CEO, Mathis Schultz, will take over as CFO. The expansion and realignment of the Executive Board are to be completed within the next few days.

With the expansion and realignment of the Executive Board, the Company is positioning itself for the upcoming growth. Through the merger with American Whinstone US, Inc., which successfully operates its own Bitcoin Mining site in Louisiana and in the first quarter will start up the world’s by far largest Bitcoin Mining facility in Texas, Northern Bitcoin AG will have a business volume in future which will be taken into account by the expansion of the Executive Board by several resorts.

With Aroosh Thillainathan, one of the most talented minds in the blockchain industry joins the Executive Board of Northern Bitcoin AG as Chief Executive Officer (CEO). Thillainathan founded Whinstone in 2014 with the objective of addressing an untapped area of the global data center industry at the time. Within about five years, his company managed to become a global leader in blockchain infrastructure.

By his side, Julian Handte will be the Chief Operating Officer (COO) responsible for the operating business. Handte has been a successful COO for Northern Bitcoin since early 2019 and has many years of entrepreneurial experience in founding and managing companies. Handte, who previously built up the business in the Middle East in cooperation with a mining company, was the lead manager for the successful merger with Whinstone.

With Andreas Lange, one of Whinstone’s co-founders joins the Executive Board as Chief Technology Officer (CTO). Lange founded Whinstone with Thillainathan and was already responsible for the complete technology in the Group as CTO, including the successful development and application of comprehensive automation and control software for the operation of the mining facility. In his future role at Northern Bitcoin AG, he and his team will also further develop the wallet app “Wallace”.

Mathis Schultz, as Chief Financial Officer (CFO), rounds off the Executive Board with responsibility for finance and the capital market. Schultz has so far led the Company as CEO and successfully positioned it on the capital market as a sustainable and fast-growing company. With his experience and his network, he will continue to support the Company in a new position of responsibility.

“I look forward to working with my colleagues on the Board and with colleagues from Northern Bitcoin and Whinstone US in the future,” said CEO-designate Aroosh Thillainathan. “We are about to open a whole new chapter for the Company. We have a unique opportunity to join forces to further expand our leading role in the emerging blockchain industry. It gives me great pleasure to have Northern Bitcoin as a key player in this fast-growing field.”

Northern Bitcoin AG, based in Frankfurt, started in 2018 as a sustainable Bitcoin Miner and is recording a rapid growth thanks to the strong global distribution of Bitcoin and its blockchain. The Company among other things operates a mining site based on renewable energy sources in Norway and benefits from the rapid adaptation of Bitcoin as “digital gold” and new means of payment. The merger with Whinstone US and the associated new facilities in the USA will make the Company one of the most important market players in the blockchain infrastructure sector.

About Northern Bitcoin:
Northern Bitcoin AG is a technology company focused on the Bitcoin blockchain. It is challenging the status quo of Bitcoin mining and redefining it. As a pioneer, it provides Bitcoin and blockchain technology with a sustainable infrastructure. To this end, it operates its own state-of-the-art mining hardware based on renewable energy sources under extremely cost-efficient and secure conditions as well as a self-developed mining pool. The company is headquartered in Frankfurt am Main. Further information under www.northernbitcoin.com.

Disclaimer:
This press release represents neither an offer to sell nor a request to submit an offer to purchase Northern Bitcoin AG securities; nor does it constitute a securities prospectus for Northern Bitcoin AG. The information contained in this press release is not intended to serve as a basis for financial, legal, tax-related or other business decisions. Investment or other decisions should not be taken solely on the basis of this press release. As in all business and investment matters, please seek qualified professional advice. This press release and the information it contains are not intended for direct or indirect communication to or within the United States of America, Canada, Australia or Japan.

Press Contact:
Northern Bitcoin AG
Dr. Hans Joachim Dürr
Head of Corporate Communications
Thurn-und-Taxis-Platz 6
60313 Frankfurt
Mail: h.duerr@northernbitcoin.com
Phone: +49 69 348 752 89

Investor Relations:
Sven Pauly
Mail: ir@northernbitcoin.com
Phone: +49 89 125 09 03 31