The operator of the world’s largest bitcoin mine is looking to raise half a billion via a US listing later this year, report says

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Frankfurt-based Northern Data AG, the operator of the world's largest bitcoin mine, is planning a US listing that could raise as much as $500 million, Bloomberg reported on Monday.  The listing, which could expand the firm's shareholder and client base, could take place later this year, Bloomberg said, citing sources. Northern Data has been trading on Germany's over-the-counter market since 2015, where its value has risen 267% in the past 12 months. The company's stock was last down 9%, at 114 euros ($138) per share. Some shareholders include Cryptology Asset Group and entrepreneur Brendan Blumer's Block.One. Northern Data's primary services include provision of infrastructure for bitcoin generation by employing high-performance computers in areas with cheap electricity. The firm's facility, in Rockdale, Texas, is the world's largest crypto mine and has a planned capacity of 1 gigawatt by the end of 2021, according to Bloomberg.

Bitcoin mining is the process that allows new coins to enter circulation, adding to the crypto ecosystem. The company initially...read more...