Tether Invests $233M in Northern Data AG, Driving 20% Capital Increase for Bitcoin Mining

Northern Data AG, a Germany-based Bitcoin mining and data center operator. Announced a 20% capital increase to raise €214 million ($233 million) by issuing 10.7 million new shares. 

Priced at €20 each, these shares will fund the enhancement of their cloud platform and expansion of data centers in Europe and the U.S. The investment will focus on acquiring Nvidia GPUs and supporting generative AI innovations. 

Major shareholders, including Tether Investments Ltd. and CEO Aroosh Thillainathan, will initially subscribe to shares, with remaining shares offered on a pro-rata basis. The new shares will be listed on the Munich Stock Exchange soon.

Clever Robot News Desk 16th July 2024

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