CandleFocus Tether-backed Northern Data explores sale of crypto mining arm to boost AI growth
2024-10-21
Author: Content Editor
German crypto and AI infrastructure company Northern Data AG is considering selling its Peak Mining unit in order to focus on AI solutions. The potential sale aligns with Northern Data's strategy to concentrate on its Generative AI cloud platform and data centers. The company intends to use the proceeds to expand its AI product platform, acquire data centers, and enhance its infrastructure. Northern Data's CEO reiterated the company's commitment to blockchain while emphasizing the importance of finding a suitable buyer for the mining business. The announcement led to a 10.69% increase in shares on the Frankfurt Stock Exchange.
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