DGAP-News: Northern Data AG / Key word(s): Cryptocurrency / Blockchain
28.02.2022 / 07:30
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE / IR RELEASE

Northern Data takes an important step to execute its strategy and outlines its intention to make strategic investment for North American Operations Campus, enters into Partnership with Oklahoma
 

  • The intended strategic partnership is part of Northern Data’s implementation of the projected ramp-up plan for deployment of more than 100k ASIC systems in North America until the end of FY2022 as outlined in the Company’s Strategy Presentation published end of September 2021
  • The Company entered into final negotiations for acquiring an undisclosed data center site featuring up to 250 MW of power being provided by strategic partner in Oklahoma. The data center buildings are projected to be fully operational by the end of 2024 using a modular building design for time-saving construction
  • On-site connection of a total of 250 megawatts will be targeted in stages, with 10 MW in Q2’22, a total of 50 MW in Q4’22, and eventually the total 250 megawatts by the end of 2024.
  • The transaction is subject to satisfactory due diligence. Further details on this transaction will be published after a conclusion of the due diligence expected within the coming weeks
  • The intended partnership supports Northern Data’s strategy to build a high-quality data center infrastructure for Blockchain and ultimately Cloud Compute Services in the future

Frankfurt am Main – 28 February 2022 – Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) announces to have entered into final negotiations for strategic data center infrastructure in Oklahoma. Northern Data is taking another important step to implement its projected growth strategy.

Today Northern Data operates ten data centers globally, with expansion planned for Europe, Canada, and the US. The strategic partnership announced today will support the company’s ramp-up and ASIC systems deployment plans in North America.

In total, the first complex of data centers is intended to be powered by up to 250 MW by the end of 2024 and has secured commitments for long-term power contracts from public power in Oklahoma with competitive pricing. Northern Data intends to continue to grow, strengthen its strategic partnership and scale the business in the coming years together with its strong partners. The entire project is subject to satisfactory completion of due diligence.

About Northern Data:
Northern Data firmly believes that High-Performance Computing (HPC) will – quite literally – determine what the future will hold. HPC has the power to unlock unprecedented potential and opportunities for research and development, business, and government. Our multinational organization is rapidly staking out a position of global significance in the area of GPU- and ASIC-based solutions by designing and operating efficient, green HPC infrastructures. We offer a combination of intelligent, sustainable data centers, cutting-edge hardware and self-developed software for various HPC applications. These include bitcoin mining, blockchain technology, artificial intelligence, big data analytics, IoT, and graphics rendering. The Northern Data Group currently operates custom, large-scale data centers and proprietary mobile high-performance data centers and employs a workforce of over 180 people in seven countries.

Investor Relations:
Jens-Philipp Briemle
Head of Investor Relations
An der Welle 3
60322 Frankfurt am Main
E-Mail: jens-philipp.briemle@northerndata.de
Telefon: +49 171 557 6989


28.02.2022 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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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.