German technology group Northern Data is selling off its cryptomining unit in order to focus on its cloud and data center businesses.

The company this week announced an agreement for the purchase of its mining business, Peak Mining. Under the terms of the transaction, Northern Data will receive an initial $50 million payment.

Though the seller wasn’t named, Northern announced plans to sell Peak Mining to Elektron Energy for $325 million in August.

Northern Data Group may receive up to $150 million in additional payments based on a profit share of the current cash earnings potential of Northern Data’s existing 100MW of capacity and potential future growth of mining operations at Corpus Christi.

The group’s Corpus Christi sites currently have 600MW of available grid capacity, of which 100MW is used for Bitcoin mining operations. The company is also looking to deploy HPC capacity at the site.

John Hoffman, Northern Data Group co-CEO, said: “As we sharpen our focus on providing cutting-edge AI solutions, we are pleased to transfer the Peak Mining business to a new owner with the deep experience and capabilities required to maximize its future potential. Northern Data continues to expand our customer pipeline across both cloud and data centers. Proceeds from this transaction will build our cash position and enable us to accelerate the pursuit of our goals.”

Northern still on sale?

Northern Data was founded as Northern Bitcoin AG in Germany in 2009 and branded itself as a ‘green’ Bitcoin mining company.

In 2020, Northern Bitcoin was officially renamed Northern Data Group and moved its focus to HPC. And in the summer of 2023, Northern split its business into three brands: Taiga Cloud, Ardent Data Centers, and Peak Mining.

Northern Data’s Taiga unit operates more than 22,000 GPUs. Ardent Data Centers has approximately 250MW of power deployed or coming online across eight global data centers by 2027, according to Northern.

Ardent operates data centers in Boden, Sweden; Lefdal and Kristiansand, Norway. The Lefdal site is hosted by Lefdal Mine, and Kristiansand by Bulk. In June 2025, Northern launched a Pittsburgh, Pennsylvania, data center that will be operated by Ardent.

The company is also planning a large development in Maysville, Georgia. Northern’s most recent earnings presentation says the group also has colocation capacity in the UK and Portugal. Its website also lists a 6MW site in Amsterdam, the Netherlands.

In May of this year, Northern Data said that it had received expressions of interest from unnamed “US-listed companies” to enter into discussions focused on merging or acquiring its Taiga Cloud and Ardent divisions. August also saw Rumble Inc., an ‘alt-tech’ video platform and cloud services provider that promises not to cancel users, announce it has informed Northern Data of its interest in pursuing a potential exchange offer.