Northern Data

Tether-backed Northern Data expects sales of €200M-€240M in 2024, up from €77.5M in 2023, on AI demand, as it disputes allegations of misrepresenting finances

Key data of Northern Data Group Letter to the shareholders Dear shareholders … Denis Omelchenko / crypto.news : Bitcoin miner Northern Data forecasts revenue to triple in 2024 Bhushan Akolkar / Coinsp...

Tether-backed Northern Data expects sales of €200M-€240M in 2024, up from €77.5M in 2023, on AI demand, as it disputes allegations of misrepresenting finances

Northern Data AG, provider of high-performance computing solutions, forecast revenue could more than triple this year …

Sources: Northern Data is weighing a US IPO of its combined AI cloud computing and data center businesses at a ~$10B to $16B valuation as early as in H1 2025

Bloomberg :

Tether plans to spend ~$500M over the next six months to become one of the world's top Bitcoin miners, after acquiring a 20% stake in Northern Data in September

Tether plans to spend ~$500M over the next six months to become one of the world's top Bitcoin miners, after acquiring a 20% stake in Northern Data in September

- Tether to invest about $500 million in the next six months  — Stablecoin issuer builds its own facilities in three countries

Tether spent ~$420M on 10K Nvidia H100 GPUs and a 20% stake in Frankfurt-based bitcoin miner Northern Data, which plans to rent the chips to AI startups

A $40,000 computer chip has become one of the hottest commodities in the tech industry.  Startups are scrambling to buy up Nvidia's H100 …