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%.

ChainCatcher news, according to Bitcoin.com, German Bitcoin mining company and data center operator Northern Data AG has announced a capital increase plan. With the approval of the supervisory board, the company will issue 10.7 million new shares, accounting for 20% of its existing share capital. These shares will be sold at a price of 20 euros per share, slightly above the market average price.This move is expected to generate 214 million euros in revenue, which will be invested in NVIDIA GPUs and infrastructure to support generative artificial intelligence (AI) innovations. The company's goal is to enhance its cloud platform and expand its data centers in Europe and the United States.The capital increase will be carried out in two steps to ensure the participation of major shareholders. Initially, Tether Investments Ltd. and an entity owned by CEO Aroosh Thillainathan will subscribe for shares proportional to their current holdings. The remaining shares will be distributed proportionally to other major shareholders.