Europe’s largest Bitcoin miner Northern Data eyes IPO in 2025: report

As a researcher with experience in the crypto and tech industries, I find Northern Data’s potential IPO announcement intriguing. The German Bitcoin mining company’s decision to combine its AI cloud computing and data center businesses for a U.S. listing next year is an interesting pivot from their previous plans to list the cloud unit alone or Bitcoin mining operations separately.

According to reports, German Bitcoin mining firm Northern Data is holding discussions with prospective consultants regarding a possible initial public offering (IPO) in the United States, which they are planning to carry out next year.

As an analyst, I’ve come across some intriguing information regarding European crypto mining giant Northern Data AG. According to reliable sources familiar with the situation, the company is currently considering the prospect of launching an Initial Public Offering (IPO) for its merged artificial intelligence (AI) cloud computing and data center businesses in the United States during the upcoming year.

As a crypto investor, I’ve heard from reliable sources that the anticipated IPO valuation for this Frankfurt-based Bitcoin mining company lies between $10 billion and $16 billion. It’s also been suggested that they may consider selling a minority stake in their mining unit to potential investors prior to the listing.

The miner is in discussions with various consultants about potentially hiring them for an upcoming project. They may select leading banks for the task within the near future, according to insiders, but no definitive choice has been made yet.

The reason behind the company’s decision to merge its AI and data center divisions remains a mystery. Notably, Northern Data had been exploring the possibility of an independent Initial Public Offering (IPO) for its cloud business unit and a separate U.S. listing for its Bitcoin mining operations as recently as last November, according to available reports.

According to Google Finance, Northern Data’s shares on the XETRA stock exchange experienced a notable increase of approximately 5%, reaching a value of €25 following recent news updates.

In September 2023, Tether revealed a partnership with Northern Data aimed at exploring projects in artificial intelligence, peer-to-peer communication, and data storage technologies. The specifics of the agreement, including financial details, were undisclosed by Tether. Contrary to certain rumors, Tether denied having invested $420 million for 10,000 H100 GPUs from Northern Data.

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2024-07-02 10:41