According to TechFlow, on October 21, German technology company Northern Data announced that it was in talks with relevant parties on the possible sale of its cryptocurrency mining subsidiary Peak Mining. The move is aimed at transforming to a pure artificial intelligence (AI) strategy.
Northern Data plans to use the potential sale proceeds to acquire more data centers, purchase GPUs, and develop its AI product platform. A few months ago, Tether supported Northern Data's $233 million stock offering to invest in Nvidia GPUs and expand its high-performance computing business in Europe and the United States.
The company reported revenues of âŹ26 million and âŹ59 million in the second and third quarters of 2024, respectively, from data centers, cloud computing, and bitcoin mining. In the first quarter of 2024, Northern Data mined 447 bitcoins, with an average energy and operating cost of $28,500 per bitcoin.
