Key Takeaways:
- Northern Data AG plans to IPO its cloud computing and data center units, Taiga and Ardent, on Nasdaq in H1 2025, potentially valuing them at up to $16 billion.
- The company is considering a separate listing for its Bitcoin mining division, Peak Mining, which is expanding with 700 MW data centers for up to 40 EH/s.
- In November 2023, Northern Data secured $610 million in debt financing from Tether to support its mining and AI expansion.
Northern Data AG, a German Bitcoin miner and cloud computing firm, is planning an IPO for its cloud computing and data center units, “Taiga” and “Ardent,” on the Nasdaq in the first half of 2025.
The IPO could value these entities at up to $16 billion.
Northern Data is weighing a US IPO of its combined AI cloud computing and data center businesses that could fetch a value of up to $16 billion. https://t.co/iICBil2n97
— Bloomberg Crypto (@crypto) July 1, 2024
The company is consulting advisers, but plans are still in deliberation and may change.
Northern Data also considers a separate listing for its Bitcoin mining business, Peak Mining.
Founded in 2009 as Northern Bitcoin AG, the company operates three divisions: Taiga, Ardent, and Peak Mining, with the latter developing 700 megawatts of data centers for up to 40 exahashes of Bitcoin mining.
Northern Data Mulls #US Market #AI Entity #IPO at up to $16 Billion Valuation #NewsBytes https://t.co/yD0lZuojfX
— Bitcoin.com News (@BTCTN) July 2, 2024
To diversify as mining profits thin, Northern Data is expanding into AI, following similar moves by Core Scientific and others.
In November 2023, the firm secured $610 million in debt financing from Tether to support its mining and AI investments.
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