Odaily Planet Daily News The listed mining company Northern Data AG is close to finalizing a deal to sell its cryptocurrency mining business, hoping to take advantage of the rising Bitcoin market in November. The company decided in October to sell its cryptocurrency mining division, Peak Mining. Northern Data's Chief Financial Officer Elliot Jordan stated that the company has hired bankers and invited bidders to submit offers, and is currently reviewing various proposals. Jordan mentioned in a speech at the German Equity Forum on Wednesday: "'In progress' is the most accurate description; we are currently receiving offers from multiple different sources, and progress is smooth." Jordan noted that Northern Data has not assigned a valuation to 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 Holdings Ltd., which is seeking to free up funds to expand its artificial intelligence service business. (Bloomberg)