Northern Data AG is planning a $16 billion U.S. IPO to expand its AI cloud and data center units, aiming to capitalize on the growing demand for digital infrastructure.
The company is collaborating with Tether for chip acquisitions and may sell a minority stake to investors before the IPO.
In line with an earlier CNF update, Reddit disclosed investments in Bitcoin and Ethereum in its IPO filing, signaling a strategic move to utilize excess cash for crypto investments. According to Bloomberg’s latest update, Northern Data AG is teaming up with AI unit US IPO, with a plan valued at $16 billion to develop its AI cloud and data center units.
Importantly, as Europe’s largest Bitcoin mining firm, Collin Browns pointed out in his recent tweet that to capitalize on the booming demand for digital infrastructure, Northern Data plans to collaborate with Tether for support with chip acquisitions.
Northern Data, Europe’s largest #Bitcoin mining firm, plans a $16 billion US IPO for its AI cloud and data center units. The move, backed by #Tether for chip acquisitions, aims to capitalize on booming demand for digital infrastructure. #IPO #AI #DataCenters #BitcoinMining… pic.twitter.com/dm9r1fiDXv
— Collin Brown (@CollinBrownXRP) July 2, 2024
The company also reported consulting experts for advice on determining their financial institution.
Banks have suggested valuations for the business ranging from about $10 billion to $16 billion, according to sources. Northern Data could also sell a minority stake in the unit to investors prior to such a listing, the sources said.
As mentioned in today’s CNF YouTube video, their plan is to list their cloud computing arm, Taiga, and data centers, Ardent, on Nasdaq next year. Valuations range between $10 billion to $16 billion, with a possible minority stake sale before the IPO. Shares of Northern Data, based in Frankfurt, have dropped 5% this year, giving it a market value of about $1.4 billion.
For the note, the firm went public in 2018 and secured €575 million from the Tether Group to buy advanced AI chips. This move aligns with the trend of cloud computing firms in the AI space attracting significant investments to advance from their previous state, as reported in the CNF report earlier.
As of today’s CoinMarketCap data,, Bitcoin (BTC) currently trades at $62,583.44, with a decrease of 0.43% in the past day and having surged by 1.75% in the past week, as shown in the price chart below.
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