09/03/2021 | Press release | Distributed by Public on 09/03/2021 10:14
Frankfurt am Main - September 3, 2021 - Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) is planning to acquire a majority interest in a bitcoin mining company. The transaction would essentially involve a capital increase in connection with a contribution in kind using existing Authorized Capital 2021. As a result, the transaction would require no further approval by shareholders of Northern Data AG.
The purchase price of up to USD 475 million would cover the acquisition and commercial operation of some 33,000 ASIC miners. The hardware acquired would represent a strategic asset build-up and complement Northern Data's existing bitcoin hosting infrastructure solutions.
Northern Data would generate initial revenue and a corresponding contribution to EBITDA upon closure of the transaction. The anticipated positive impact at the level of the forecast for the 2021 financial year would be described in detail when the annual report for 2020 is published.