DGAP-News Northern Data AG considers change to a more transparent stock exchange listing as of H2 2021
DGAP-News: Northern Data AG / Key word(s): Strategic Company Decision
PRESS RELEASE / IR RELEASE
- Northern Data is on track to become the largest specialized HPC data center provider globally
- Discussions with further acquisition targets which could be acquired via cash and/or issuance of new shares
Frankfurt am Main - April 12, 2021 - Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), a leading infrastructure supplier for Bitcoin mining and other HPC data center solutions, is considering a change to a more transparent stock exchange listing, presumably on NASDAQ, in H2 2021. This is intended to facilitate investor access to the company, increase transparency and reflect Northern Data's successful development as a high-tech company. The Executive Board has therefore decided today to examine a possible up-listing and to prepare the necessary next steps.
Considerations of an up-listing start just a few days after announcing the sale of the Texas site - just one out of 7 sites currently in operation - with total proceeds of around EUR 550 million, putting the Company in a strong financial position to pursue its strategic goals.
CEO Aroosh Thillainathan comments: "We are on track to become the largest specialized HPC data center provider globally and cover all areas of HPC. With our ASICs sites, we are already one of the leading outsourcing partners for the booming Bitcoin mining industry. At the same time, Northern Data is currently developing one of the world's largest GPU-based distributed computing clusters for HPC applications, working with renowned partners such as Gigabyte and AMD. The cluster is expected to handle HPC tasks for customers in areas such as artificial intelligence, deep learning, and streaming or rendering movies."
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