Northern Data AG is close to finalizing a deal to sell its cryptocurrency mining business, hoping to profit from the Bitcoin surge in November. According to Northern Data's Chief Financial Officer Elliot Jordan, the company has hired bankers to invite bids and is currently reviewing various proposals. Jordan stated during a speech at the German equity forum on Wednesday that they are receiving offers from multiple sources and the process is progressing smoothly. He mentioned that Northern Data has not valued the business, but reports suggest that the valuation prior to the Bitcoin surge was between $300 million and $500 million. He told investors, 'Clearly, now is the best time to sell this business.' Northern Data's main shareholder is 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 revenue source. Previously, in October, it was reported that Northern Data plans to sell its cryptocurrency mining division, Peak Mining.