Northern Data Gears Up for US IPO: Cloud and Data Center Units Eye $16 Billion Valuation

• Europe’s Largest Bitcoin Miner Seeks US Listing for AI and High-Performance Computing Businesses

• A strategic shift to AI and HPC, plus a $610 million Tether investment mark Northern Data’s expansion into new tech domains.

German Bitcoin miner and cloud computing firm Northern Data AG is prepping for a potential blockbuster initial public offering (IPO) in the United States. 

The company, known as Europe’s largest Bitcoin miner by market cap, is considering listing its cloud computing and data center units, Taiga and Ardent respectively, on the Nasdaq stock exchange in the first half of 2025.

This strategic move highlights Northern Data’s shift towards the high-growth sectors of artificial intelligence (AI) and high-performance computing (HPC), while its Bitcoin mining operations remain under the Peak Mining division. Analysts estimate a potential valuation between $10 billion and $16 billion for the combined Taiga and Ardent IPO.

Northern Data’s Strategic Shift; What it Indicates? 

Northern Data is not the only Bitcoin miner venturing into the AI and HPC space. The energy-intensive nature of Bitcoin mining has prompted several industry players to explore alternative revenue streams. Companies like Core Scientific, TeraWulf, and Hut 8 Corp have all followed similar trajectories in recent months.

This move also comes on the heels of Northern Data securing a significant $610 million debt financing from stablecoin issuer Tether in November 2023. The funds are earmarked for further investments in its AI and mining businesses.

While the final decision on the IPO rests with Northern Data, the company’s recent acquisition of 2,000 Nvidia H200 GPUs suggests a strong commitment to establishing itself as a leader in the AI and HPC cloud solutions market.

About Northern Data’s AI Accelerator Programme 

In June 2024, Northern Data Group unveiled its AI Accelerator program. This worldwide initiative is set to grant a handpicked group of emerging startups free access to Nvidia’s H100 Tensor Core GPUs, celebrated for their exceptional processing speed. The program’s goal is to make AI technologies more accessible, breaking down barriers that typically reserve innovation for large-scale tech entities.

The chosen startups will gain access to Nvidia HGX H100 GPU servers, which are interconnected through Nvidia’s Quantum-2 InfiniBand network. This formidable setup is designed to empower these startups to deploy sophisticated AI methodologies, such as fine-tuning, quantisation, and retrieval-augmented generation, to advance their technological capabilities.

Also Read: Ethereum Ranked First With $2.728 Billion In Fee Income 

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