Northern Data AG, a German bitcoin miner and data centre operator, has announced a capital increase. With the approval of the supervisory board, the company will issue 10.70 million new shares, representing 20% of its existing share capital. The shares will be sold at 20 euros per share, slightly above the market average.
The move is expected to generate 214 million euros in proceeds, which will be invested in Nvidia GPUs and infrastructure to support generative artificial intelligence (AI) innovation. The company aims to enhance its cloud platform and expand its data centers in Europe and the United States.
The capital increase will be carried out in two steps to ensure the participation of major shareholders. Initially, an entity owned by Tether Investments Ltd and CEO Aroosh Thillainathan will subscribe for shares proportional to its current shareholding ratio. The remaining shares will be distributed proportionally to other major shareholders.
Bitcoin miner Northern Data AG plans to raise $233 million by issuing new shares
2024-07-16 06:18:36
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