Mining company Northern Data plans to IPO in the U.S. next year, with a valuation of up to $16 billion

BlockBeats news, July 2, Bloomberg reported that Bitcoin miner Northern Data is considering an initial public offering (IPO) in the United States as early as the first half of next year. The entity will be listed after the merger of a cloud computing service called Taiga and its data center called Ardent. Banks suggest that the valuation of the business is between US$10 billion and US$16 billion.

Northern Data may also sell a minority stake in the division to investors before listing.

Tether previously provided Northern Data with a US$610 million credit facility in November 2023 and purchased shares of Northern Data AG in September 2023.