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
- German firm Northern Data plans to raise $500 million via a US
listinglater this year, Bloomberg reported.
- The company's facility in Rockdale, Texas is the world's largest crypto mine.
- It first started out as a
bitcoinminer in 2009, but later transitioned to operating mines on behalf of clients.
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
The company initially started out as a bitcoin miner in 2009, but later switched to operating mines on behalf of its clients. It changed its name from Northern Bitcoin after it merged with Texas-based Whinstone at the end of 2019 to construct the largest data center for high-performance computers.Bitcoin tumbled by as much as 17% to below $45,000 at one point on Tuesday. But the digital token hit a $1 trillion market cap earlier this month after its value surged past a record high $58,000.
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