Northern Data the worlds largest Bitcoin miner considers IPO in 2025 according to report
Germany’s Bitcoin mining company, Northern Data, is reportedly in discussions with potential advisers regarding a planned U.S. initial public offering for next year. The European crypto mining giant is considering conducting an IPO for its combined artificial intelligence (AI) cloud computing and data center businesses in the U.S. in the coming year, according to sources familiar with the matter cited in a Bloomberg report.
The IPO is expected to value the entity between $10 billion and $16 billion, with the possibility of selling a minority stake in the unit to investors before the listing. Northern Data is currently in discussions with several potential advisers and could select lead banks in the coming months, although no final decision has been made as of yet.
The decision to combine its AI and data center units is unclear, as the company had previously considered an IPO for the cloud unit alone and a separate U.S. listing for its Bitcoin mining operations last November. Following this news, Northern Data shares on the XETRA stock exchange surged over 5% to €25, according to data from Google Finance.
In September 2023, Tether announced a collaboration with Northern Data to focus on AI initiatives, peer-to-peer communications, and data storage solutions. The stablecoin issuer did not disclose any figures related to the deal but refuted reports suggesting it had spent $420 million on 10,000 H100 GPUs from Northern Data.
