Bloomberg: Northern Data AG plans to sell cryptocurrency mining unit

BlockBeats reported on October 21 that German bitcoin miner and data center operator Northern Data AG is considering selling its cryptocurrency mining business to free up funds for expanding its artificial intelligence business.

The Frankfurt-listed company, whose main shareholder is stablecoin issuer Tether Holdings Ltd., said in a statement on Monday that it would use the proceeds from the sale of Peak Mining to focus on its artificial intelligence solutions division. After the news was released, Northern Data's stock price rose by 12% at one point, and as of 12:06 p.m. Frankfurt time, the increase was 9.8%.