Bitcoin mining company Northern Data AG plans to raise $233 million through new share issuance

Odaily News German bitcoin miner and data center operator Northern Data AG has announced a capital increase. With the approval of the Supervisory Board, the company will issue 10.7 million new shares, representing 20% of its existing share capital. The shares will be sold at 20 euros per share, slightly above the market average price. The move is expected to generate 214 million euros in proceeds, which will be invested in Nvidia GPUs and infrastructure to support generative artificial intelligence (AI) innovations. The company aims to enhance its cloud platform and expand its data centers in Europe and the United States. The capital increase will be carried out in two steps to ensure the participation of major shareholders. Initially, Tether Investments Ltd. and an entity owned by CEO Aroosh Thillainathan will subscribe for shares proportional to their current shareholdings. The remaining shares will be distributed to other major shareholders in proportion. (Bitcoin.com)