Gold Finance reports that Northern Data AG is close to finalizing a deal to sell its cryptocurrency mining business, as the company hopes to take advantage of the Bitcoin surge in November to profit. According to Northern Data's Chief Financial Officer Elliot Jordan, the company has hired bankers and invited bidders to submit offers, and is currently reviewing various proposals. Jordan stated in a speech at the German Equity Forum on Wednesday that they are receiving offers from multiple different sources and that progress is going smoothly. Jordan noted that Northern Data has not valued the business, but it has been reported that the valuation before the Bitcoin surge was between $300 million and $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 seeking to free up funds to expand its artificial intelligence services business. This is a transition that many mining companies are exploring after the Bitcoin software update in April, which halved their primary source of income. Previously, in October, it was reported that Northern Data plans to sell its cryptocurrency mining division Peak Mining.