Bloomberg: Northern Data AG plans to sell its cryptocurrency mining division

2024-10-21 22:05:10

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ChainCatcher news, according to Bloomberg, German Bitcoin mining company and data center operator Northern Data AG is considering selling its cryptocurrency mining business to free up funds for expanding its artificial intelligence business.

The Frankfurt-listed company, whose main shareholder is stablecoin issuer Tether Holdings Ltd., stated in a press release on Monday that it will use the proceeds from the sale of Peak Mining to focus on its artificial intelligence solutions division. Following the news, Northern Data's stock price surged by 12% at one point, and as of 12:06 PM Frankfurt time, it had risen by 9.8%.

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