Golden Finance reports that Northern Data AG is nearing a deal to sell its cryptocurrency mining business, hoping to capitalize on the rising Bitcoin market in November. According to Northern Data's Chief Financial Officer Elliot Jordan, the company has hired bankers to invite bidders to submit offers and is currently reviewing various proposals. Jordan stated during his speech at the German Equity Forum on Wednesday that they are receiving offers from multiple different sources and the progress is smooth. Jordan mentioned that Northern Data has not valued the business, but reports suggest that the valuation before the Bitcoin surge was between $300 million to $500 million. He told investors, "Clearly, now is the best time to sell this business." The main shareholder of Northern Data is the stablecoin issuer Tether, which is looking to free up funds to expand its artificial intelligence services. This shift is being explored by many mining companies following the Bitcoin software update in April, which halved their main source of revenue. Earlier in October, there were reports that Northern Data plans to sell its cryptocurrency mining division, Peak Mining.