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Germany’s Bitcoin mining company Northern Data is reportedly in talks with potential advisers about a U.S. initial public offering planned for next year. 
European crypto mining giant <a href="https://crypto.news/tag/northern-data/" target="_blank" rel="noreferrer noopener">Northern Data</a> AG is mulling the possibility of conducting an initial public offering (<a href="https://crypto.news/tag/ipo/" target="_blank" rel="noreferrer noopener">IPO</a>) for its combined artificial intelligence (<a href="https://crypto.news/tag/ai/" target="_blank" rel="noreferrer noopener">AI</a>) cloud computing and data center businesses in the U.S. next year, according to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-01/northern-data-weighs-ai-unit-us-ipo-at-up-to-16-billion-value?data=78234crypto9824news" target="_blank" rel="">report</a>, which cites sources familiar with the matter. 
The IPO is expected to value the entity between $10 billion and $16 billion, according to the sources. They added that the Frankfurt-headquartered Bitcoin miner might sell a minority stake in the unit to investors before the listing. 
The miner is currently in talks with several potential advisers to pitch for a role and could mandate lead banks within the coming months, the sources said, noting that no final decision has been made thus far. 
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It remains unclear why the company decided to combine its AI and data center units, as Northern Data had previously considered an IPO for the cloud unit alone and a separate U.S. listing for its Bitcoin mining operations last November, the report notes. 
Following the news, Northern Data shares on the XETRA stock exchange surged over 5% to €25, according to data from Google Finance. 
In September 2023, Tether <a href="https://crypto.news/tether-group-denies-stake-size-in-northern-data-investment/" target="_blank" rel="noreferrer noopener">announced</a> a collaboration with Northern Data to focus on initiatives around AI, peer-to-peer communications, and data storage solutions. The stablecoin issuer didn’t disclose any figures related to the deal but refuted reports suggesting it had spent $420 million on 10,000 H100 GPUs from Northern Data. 
 Read more: <a href="https://crypto.news/europes-bitcoin-miner-secures-e575m-debt-financing-from-tether/"> Europe’s Bitcoin miner secures €575m debt financing from Tether </a>

Europe’s largest Bitcoin miner Northern Data eyes IPO in 2025: report

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