Frankfurt am Main - May 27, 2021 - Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) a leading infrastructure supplier for Bitcoin mining and other HPC infrastructure solutions, successfully completed the sale of its U.S. subsidiary Whinstone US, Inc., which operates a high-performance data center facility based in Rockdale, Texas, to Riot Blockchain, Inc. (NASDAQ: "RIOT"). The consideration for the transaction consists of approximately EUR 67 million in cash and 11.8 million shares of common stock of Riot Blockchain, Inc. As a result of the transaction, Northern Data AG holds approximately 12% of the total outstanding common stock of Riot Blockchain, Inc.
"Today marks an important milestone in Northern Data's young history and its ambition to build a versatile multi-site infrastructure network of efficient high-performance computing sites. With the successful sale and the resulting proceeds thereof Northern Data can further invest in its global asset base focused on providing efficient, fast, green and climate-neutral high-performance computing solutions," says Aroosh Thillainathan, CEO of Northern Data AG.
Greenhill served as exclusive financial adviser, Sullivan & Cromwell LLP acted as legal counsel to Northern Data AG.
Northern Data AG published this content on 27 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 May 2021 08:58:00 UTC.