Tether-Backed Northern Data Gets Offers for Crypto Mining Arm
- Firm has invited several bidders to a banker-led style process
- CFO said reports on valuations predate recent Bitcoin rally
Data servers inside the Northern Data Lefdal Mine Datacenter in Maloy, Norway.
Photographer: Fredrik Solstad/BloombergThis article is for subscribers only.
Northern Data AG is getting closer to a deal to sell its crypto mining operations as the company looks to capitalize on November’s Bitcoin rally.
The Frankfurt-listed company resolved in October to sell its cryptomining business. Weeks later, digital assets caught fire in the aftermath of the US election of crypto-friendly Donald Trump. That’s left Bitcoin flirting with the $100,000 level and added to the allure of crypto-assets around the world.