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Sparks commentary - Northern Data Group

TMT

Sparks - Northern Data Group

More on this equity
Northern Data (XETRA: NB2) explores potential sale of Peak Mining
Published by

Northern Data is exploring the potential sale of its crypto mining business, Peak Mining, to focus on being a pure-play provider of AI and high-performance computing (HPC) solutions. The sale of Peak Mining would leave Taiga Cloud and Ardent Data Centers as the remaining businesses. In Q324, Peak Mining generated €12m of revenue, equivalent to 20% of group revenue, as the company has strategically grown its AI and HPC solutions business as a greater proportion of revenues. Management has noted that any proceeds raised from the sale would be invested to develop its AI platform and enhance its managed services, as well as for the acquisition of additional data centres and AI graphics processing units.

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