Northern Data Group Announces Peak Mining Divestiture
- Northern Data completes divestiture of Peak Mining for up to USD 200 million.
- This agreement includes USD 50 million in up-front proceeds and up to USD 150 million in deferred consideration related to a profit share pursuant to mining operations at Corpus Christi.
- The transaction structure further allows Northern Data to continue pursuing HPC development upside for Corpus Christi during the earn-out period.
Frankfurt – 03 November 2025 – Northern Data AG (ETR: NB2) (“Northern Data Group” or “Northern Data”), today announced an agreement for the purchase of its mining business Peak Mining, as it focuses on driving technological transformation through its cloud and data center businesses.
Under the terms of the transaction, Northern Data will receive an initial USD 50 million payment. The upfront proceeds will remain available to meet the Groups funding needs, as its majority shareholder does not require Northern Data to use these to pay down the outstanding shareholder loan.
Northern Data Group may receive up to USD 150 million in additional payments based on a profit share of the current cash earnings potential of Northern Data's existing 100 MW and potential future growth of mining operations at Corpus Christi.
The Group’s Corpus Christi sites currently have 600 MW of available grid capacity, of which 100 MW is used for bitcoin mining operations. A potential HPC transaction for the Corpus Christi sites could result in consideration exceeding the USD 150 million earn-out.
John Hoffman, Co-Chief Executive Officer, Northern Data Group, commented:
“As we sharpen our focus on providing cutting edge AI solutions, we are pleased to transfer the Peak Mining business to a new owner with the deep experience and capabilities required to maximize its future potential. Northern Data continues to expand our customer pipeline across both cloud and data centers. Proceeds from this transaction will build our cash position and enable us to accelerate the pursuit of our goals.”
About Northern Data Group:
Northern Data AG (ETR: NB2) is a leading provider of full-stack AI and High Performance Computing (HPC) solutions, leveraging a network of high-density, liquid-cooled, GPU-based technology to enable the world’s most innovative companies. Together with our partners, we are passionate about the potential of HPC to drive both technological and societal transformation.
Northern Data has one of the largest GPU clusters in Europe through its Taiga Cloud business, while its Ardent Data Centers business has a network of owned and colocation data centers across the globe. Northern Data enjoys access to cutting-edge chips and hardware for maximum performance and efficiency. At every step, our customers are supported by Northern Data’s best-in-class technologists and engineers for rapid, flexible deployment. To learn more, please visit northerndata.de.
Investor Relations:
Jose Cano
Vice President, Investor Relations
E-Mail: ir@northerndata.de
