According to Bloomberg, Northern Data, Europe's largest crypto mining company, is planning for an IPO in the U.S. The IPO could possibly value the company at $16b.
The Frankfurt-based company plans to list its profitable AI cloud computing and data center divisions, Taiga and Ardent, on the Nasdaq in the near future.
Northern Data is consulting with advisers and expects to select leading banks soon. With shares down 5% this year, the market estimate is at about €1.3B. Yet, industry investments are on the upswing. This prompts Northern Data to consider the thriving AI cloud sector for its public debut.
Financial analysts estimate that Northern Data's potential worth is between $10B and $16B. In the meantime, the company is considering selling a portion of its stock ahead of an IPO. Though crypto firms face regulatory challenges in the U.S., Northern Data's efforts, notably a recent loan package to improve generative AI prowess, show confidence.
