Crypto News– As reported, Northern Data AG, one of Europe’s prominent Bitcoin mining companies, has recently disclosed a significant development. The company, along with its subsidiary entities, has inked a loan agreement with the Tether group, a blockchain-oriented platform founded by a group of Bitcoin enthusiasts back in 2014.
Major Bitcoin Mining Firm, Northern Data, Acquires 575 Million Euros in Europe’s Largest Deal
Following Article 17 of the EU Market Abuse Regulations (MAR), this information was made available to the public on November 2, 2023.
Debt Financing for Advancement Northern Data AG, in conjunction with its subsidiary units collectively known as the Northern Data Group, has entered into a substantial loan agreement with the Tether group of companies, securing a substantial EUR 575 million debt financing facility, effective as of November 2.
This unsecured facility, offered under standard market conditions, carries a term extending until January 1, 2030. Importantly, this recently introduced debt financing provides the Northern Data Group with the means to make additional investments across all of its subsidiaries, which encompass Taiga Cloud, Ardent Data, and Peak Mining, thus facilitating further expansion and development.
Furthermore, these investments are focused on acquiring advanced hardware, enabling the Northern Data Group’s Taiga Cloud business to expand its offerings as a Generative Artificial Intelligence Cloud Service Provider, particularly within the European market.
Leave a comment