German software company Northern Data AG is in advanced talks to sell its cryptocurrency mining operations, in a move aimed at capitalising on the recent rally in Bitcoin. The company has hired bankers and is currently evaluating proposals from potential buyers. The sale is intended to raise funds for the expansion of Northern Data's artificial intelligence services business. The company's CFO, Elliot Jordan, stated that the estimated value of the mining business before the Bitcoin rally was between $300 million and $500 million. Analysts predict that divestment proceeds could reach around $800 million in a best-case scenario. Northern Data's decision to sell its mining business comes as many miners have been exploring other revenue sources following a Bitcoin software update in April that halved their earnings.



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