Northern Data Option to Sell Corpus Christi Site Expires

Northern Data AG has announced the expiry of its option to sell the Corpus Christi site to a global infrastructure asset management firm. The site was intended for High-Performance Computing (HPC) purposes. Despite the lapse, the company retains the right to receive up to USD 150 million from an earn-out option, dependent on profits from ongoing mining operations at the site.

If the site is sold by the current owners to a third party within five years, Northern Data could receive up to 95% of net proceeds. This proportion decreases quarterly. Additionally, the failure to finalize the site sale impacts a tender offer by Rumble Inc., affecting potential cash payments of up to USD 200 million to Northern Data shareholders.