German Bitcoin miner Northern Data plans a $16 billion IPO for its US cloud computing and data center businesses in 2025, aiming to list on Nasdaq. Learn more about Northern Data's $16 Billion Cloud & Mining IPO Plans!
The German Bitcoin miner and cloud computing firm Northern Data AG is preparing for a major initial public offering (IPO) in the United States. The company is seeking to list its cloud computing and data center businesses under separate entities on Nasdaq, targeting a valuation of up to $16 billion. This strategic move aims to capitalize on the growing demand for cloud and mining services.
Key Points:
IPO Details:
Northern Data plans to list its “Taiga” and “Ardent” entities on Nasdaq in the first half of 2025.
Valuation is estimated between $10 billion and $16 billion.
Business Units:
Taiga: Cloud computing arm.
Ardent: Data center division.
Peak Mining: U.S. Bitcoin mining unit with 700 megawatts of high-performance computing data centers.
Previous IPO Attempt:
Northern Data considered an IPO for its cryptocurrency mining business in February 2021 but did not proceed.
Industry Expansion:
Northern Data, along with other Bitcoin miners like Core Scientific, TeraWulf, and Hut 8 Corp, has expanded into the AI sector due to tightening profit margins in mining.
Financing:
In November 2023, Northern Data secured $610 million in debt financing from stablecoin issuer Tether to invest in its mining and AI businesses.
Northern Data’s upcoming IPO represents a significant milestone for the company, potentially valuing its cloud and data center businesses at up to $16 billion. This strategic move highlights the growing convergence between traditional mining operations and advanced cloud computing and AI technologies.
As the firm gears up for its Nasdaq debut, it aims to strengthen its position in the evolving tech landscape.
Source: Cointelegraph
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