Bloomberg: Mining company Northern Data plans to go public in the U.S. next year, with a valuation of up to $16 billion.

according to Bloomberg, Bitcoin miner Northern Data is considering an initial public offering (IPO) in the United States as early as the first half of next year. The entity will be listed after merging its cloud computing service named Taiga and its data center named Ardent, with banks suggesting a valuation for the business between $10 billion and $16 billion.

Northern Data may also sell a minority stake in the division to investors before the IPO.

Tether previously provided a $610 million credit facility to Northern Data in November 2023 and purchased shares of Northern Data AG in September 2023.