Northern Data AG Considers Selling Crypto Mining Business To Focus On AI Expansion

According to Odaily, Bitcoin mining company Northern Data AG is exploring the possibility of selling its cryptocurrency mining operations to free up capital for expanding its artificial intelligence (AI) business. The company's primary shareholder, stablecoin issuer Tether, has indicated that the proceeds from the sale of Peak Mining will be used to concentrate on Northern Data's AI solutions division. This strategic move has positively impacted Northern Data's stock performance. Following the announcement, the company's shares saw a significant increase, rising by as much as 12%. As of 12:06 PM Frankfurt time, the stock was up by 9.8%.