Northern Data AG Explores Divestment of Peak Mining to Focus on Accelerating AI Solutions Business
Northern Data AG, a leading provider of AI and High-Performance Computing solutions, is making strategic moves to focus on accelerating its AI Solutions business. The company recently announced that it is exploring the divestment of its heritage crypto mining business, Peak Mining, in order to solidify its position as a pure-play AI Solutions provider.
The decision to potentially divest Peak Mining comes on the heels of strong Q3 earnings, which revealed significant sequential growth in Northern Data’s AI Solutions business. The company aims to reinvest potential proceeds from the divestment into further developing its AI product platform, including new software capabilities and managed services, as well as expanding its Data Center acquisition and development efforts.
Aroosh Thillainathan, Founder and Group CEO of Northern Data Group, emphasized the importance of focusing on AI innovation and best-in-class infrastructure, stating, “We remain supporters of blockchain technology and continue to believe in its potential. This commitment means identifying the right steward for this valuable business is of absolute importance, as we solidify our focus on powering AI innovation through best-in-class infrastructure and carbon-neutral energy systems.”
Rosanne Kincaid-Smith, Group COO of Northern Data Group, highlighted the company’s dedication to leading the charge in the AI revolution, stating, “Our goal is to provide a seamless AI ecosystem where customers can access intelligent, sustainable solutions that enable their businesses to harness AI’s full potential.”
Northern Data Group is known for leveraging high-density, liquid-cooled, GPU-based technology to empower innovative organizations in the AI and HPC space. With a focus on driving technological advancements and societal progress, the company is poised to make significant strides in the AI landscape.
For more information on Northern Data AG and its strategic initiatives, visit their website at www.northerndata.de.
