- German firm Northern Data plans to raise $500 million via a US
listing later this year, Bloomberg reported. - The company's facility in Rockdale, Texas is the world's largest crypto mine.
- It first started out as a
bitcoin miner in 2009, but later transitioned to operating mines on behalf of clients.
Frankfurt-based $4 AG, the operator of the world's largest bitcoin mine, is planning a US listing that could raise as much as $500 million, $4 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
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.
The company initially started out as a bitcoin miner in 2009, but later switched to operating mines on behalf of its clients. It $4 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 $4 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.