Northern Data AG to Sell Bitcoin Division to Elektron Energy

Northern Data AG has reached a non-binding term sheet agreement to sell its bitcoin mining division, Peak Mining, to Elektron Energy LP. This transaction features an all-cash offer potentially reaching USD 235 million. The upfront cash contribution amounts to USD 175 million, with additional payments contingent on performance metrics and successful transfer agreements with a bitcoin hardware producer.

Elektron Energy, a privately-held Bitcoin mining company, plans to expand globally, emphasizing efficient and sustainable mining practices. The completion of this sale is anticipated in the second half of 2025, subject to standard closing conditions.

Northern Data's Ardent Division maintains a potential involvement in future High-Performance Computing projects led by Elektron, particularly Corpus Christi II. Northern Data is recognized for its comprehensive AI and HPC services.