Northern Data, Europe’s Biggest Bitcoin Miner, Plans IPO in 2025, Says Report

The initial public offering (IPO) of a Frankfurt-headquartered Bitcoin mining entity is expected to be valued between $10 billion and $16 billion, according to sources. The company may sell a minority stake in the unit to investors before the listing and is currently in talks with potential advisers to pitch for a role. Lead banks could be mandated within the coming months, with no final decision made yet. Notably, it is unknown why the company decided to combine its AI and data center units, as it had previously considered an IPO for the cloud unit alone and a separate U.S. listing for its Bitcoin mining operations last November.

Following this news, Northern Data shares on the XETRA stock exchange rose over 5% to €25, according to data from Google Finance. The stablecoin issuer did not disclose any figures related to the deal but refuted reports suggesting it had spent $420 million on 10,000 H100 GPUs from Northern Data.

Leave a Reply

Your email address will not be published. Required fields are marked *