Northern Data AG considers change to a more transparent stock exchange listing as of H2 2021

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  • 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.”

With its remaining 6 sites and customer base including Blockchain powerhouse Block.One, Northern Data can fully maintain its EBITDA outlook for 2021 of EUR 100 million to EUR 125 million even after the complete deconsolidation of the Texas site. The EBITDA forecast excludes all one-off effects from the transaction and all effects from the current fiscal year of the Texas site.

Fiscal year 2020 results are expected to be published within the next weeks, for the first time under IFRS standard and with KPMG as auditor. Northern Data will also start to publish quarterly financial results in FY2021.

In order to meet the exponentially growing demand from both Bitcoin mining and GPU clients alike, 8 further sites are being developed – in addition to the six sites currently in operation – with a targeted start of operation in the course of 2021. Additionally, Northern Data is in discussions with further acquisition targets which could be acquired via cash and/or issuance of shares.

Aroosh Thillainathan comments: “All Northern Data sites stand out by time to market of just 2-4 months, data sovereignty principles and tier 3 DC standards. However, I am most proud of all our sustainability attributes such as renewable energy usage of >90% in all new sites. We are building a platform, based on renewable energies, enabling our clients to be fully compliant with ESG standards.”

This quality and sustainability leadership allows Northern Data to charge both fix base remunerations and profit share agreements with its clients. Hence, Northern Data directly participates in rising Bitcoin prices. For the years ahead, management expects exponential growth both in revenues and earnings.

Disclaimer

This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities of Northern Data AG and does not constitute a prospectus of Northern Data AG. The information contained in this press release is not intended to form the basis of any financial, legal, tax or other business decision. Investment or other decisions should not be made solely on the basis of this press release. As with all business and investment matters, please consult qualified professional advice. This release and the information contained herein are not for distribution, directly or indirectly, in or into the United States of America, Canada, Australia or Japan.

Press Contact

Dr. Hans Joachim Dürr
Head of Corporate Communications

presse@northerndata.de
+49 69 34 87 52 89

Ir Contact

Jens-Philipp Briemle
Head of Investor Relations

jens-philipp.briemle@northerndata.de
+49 171 557 6989

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