{"id":335583,"date":"2024-07-02T11:49:51","date_gmt":"2024-07-02T06:19:51","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=335583"},"modified":"2024-07-02T11:49:51","modified_gmt":"2024-07-02T06:19:51","slug":"europes-bitcoin-mining-giant-northern-data-eyes-a-us-ipo-with-ai-move-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/europes-bitcoin-mining-giant-northern-data-eyes-a-us-ipo-with-ai-move-crypto-news\/","title":{"rendered":"Europe\u2019s Bitcoin Mining Giant Northern Data Eyes A US IPO With AI Move – Crypto News"},"content":{"rendered":"

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Sources familiar with the matter said that Northern Data AG is currently in talks with advisors for announcing an IPO in the US for its combined businesses of data centers and artificial intelligence cloud computing. Reportedly, the crypto mining firm is seeking a valuation of $16 billion.<\/p>\n

Northern Data Eyes US IPO<\/h3>\n

Sources said that Northern Data would soon announce the banks to lead the IPO. Besides, the company plans for a Nasdaq listing as early as the first half of 2025. As per the current plans, the crypto mining firm would list entities comprising its data centers, called Ardent, and its cloud computing activities, dubbed Taiga. The sources also said that Northern Data could be selling a minority stake in the unit prior to the listing.<\/p>\n

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The Frankfurt-based crypto miner went public in Europe back in 2018. Since the beginning of the year 2024, shares of Northern Data have dropped by 5%, giving it a market value of \u20ac1.3 billion ($1.4 billion).<\/p>\n

With Bitcoin mining<\/a> becoming more and more expensive and less rewarding, several firms have decided to pivot towards AI. On the other hand, cloud computing firms in AI are attracting significant investments. Thus, it makes sense for them to pivot in this direction while attracting new revenue streams.<\/p>\n

Also Read: Bitcoin Hash Price Drops to All-Time Low<\/a><\/p>\n

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Northern Data is already functioning in the US with its Bitcoin mining unit dubbed Peak Mining. As per the last data from May, this unit has 700 megawatts of data centers in active construction. Thus, the firm also shares a spot among the largest Bitcoin miners in the US.<\/p>\n

Crypto Firms Eyeing US IPOs<\/h3>\n

A number of crypto firms have been eyeing a public listing in the US market including prominent players such as stablecoin issuer Circle<\/a> and crypto exchange Kraken<\/a>. However, the regulatory status of stablecoins still remains uncertain in the US while the US SEC ruffled feathers with Kraken for running an unregistered exchange.<\/p>\n

Also Read: Crypto Buy-Side Demand Surges 28% on IPO Expectations<\/a><\/p>\n

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Before the Ethereum Merge event in 2022, which moved the network to a PoS consensus mechanism, Norther Data was one of the top ETH miners in Europe occupying 70% market share.<\/p>\n

In November last year, Northern Data secured a \u20ac575 million debt-financing facility from stablecoin firm Tether Group. By January, they completed the acquisition of a vehicle from Tether valued at \u20ac400 million, establishing Tether as the cornerstone investor in Northern Data, according to a statement.<\/p>\n

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Sources familiar with the matter said that Northern Data AG is currently in talks with advisors for announcing an IPO in the US for its combined businesses of data centers and artificial intelligence cloud computing. Reportedly, the crypto mining firm is seeking a valuation of $16 billion. Northern Data Eyes US IPO Sources said that […]<\/p>\n","protected":false},"author":2,"featured_media":278934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-335583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=335583"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335583\/revisions"}],"predecessor-version":[{"id":335604,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/335583\/revisions\/335604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/278934"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=335583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=335583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=335583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}