Northern Data AG is gearing up for a massive $16 billion IPO in the U.S. to bolster its AI cloud and data center divisions, capitalizing on the surging demand for digital infrastructure. The company’s strategic collaboration with Tether for chip acquisitions and potential sale of a minority stake to investors before the IPO underscores its ambitious expansion plans.
In a parallel move, Reddit has disclosed its investments in Bitcoin and Ethereum in its IPO filing, signaling a strategic pivot towards leveraging surplus cash for cryptocurrency investments. According to Bloomberg, Northern Data AG is forging ahead with its $16 billion U.S. IPO plan to enhance its AI cloud and data center capabilities, marking a significant step in its growth trajectory.
As Europe’s largest Bitcoin mining firm, Northern Data AG aims to capitalize on the burgeoning digital infrastructure demand by partnering with Tether for chip acquisitions. The company has also consulted with financial experts to determine optimal valuations, ranging from $10 billion to $16 billion, for its business. Sources indicate the possibility of Northern Data selling a minority stake to investors prior to the IPO.
In another development, Northern Data plans to list its cloud computing arm, Taiga, and its data centers, Ardent, on Nasdaq next year. Despite a 5% decline in its share value this year, the company, headquartered in Frankfurt, maintains a market value of approximately $1.4 billion. Since going public in 2018 and securing €575 million from the Tether Group for advanced AI chips, Northern Data has mirrored the trend of AI-focused cloud computing firms attracting substantial investments to propel their growth.
Recent data from CoinMarketCap shows Bitcoin (BTC) trading at $62,583.44, marking a slight decrease of 0.43% in the past day but a notable increase of 1.75% over the past week, as depicted in the accompanying price chart.
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