Northern Data and Elektron Energy execute non-binding term sheet agreement for the sale of Peak Mining

Northern Data and Elektron Energy execute non-binding term sheet agreement for the sale of Peak Mining

Frankfurt/Main – 11 August 2025 – Northern Data AG (ETR: NB2) (“Northern Data Group” or “Northern Data”), a leading provider of AI and High-Performance Computing (HPC) solutions, today confirms the execution of a non-binding, non-exclusive term sheet for the sale of Peak Mining, Northern Data's bitcoin mining division, to Elektron Energy LP ("Elektron"). The transaction consideration contemplates an all-cash offer of up to approximately USD 235 million, inclusive of USD 175 million of upfront cash consideration with the remainder subject to certain key performance metrics and the successful transfer of a deposit agreement with a bitcoin miner hardware producer. Northern Data’s Ardent division retains the explicit right to participate in any potential High Performance Computing development of Corpus Christi II by Elektron. The transaction is expected to conclude in the second half of 2025 and is subject to customary closing conditions for a transaction of this type.

About Elektron Energy LP

Elektron Energy LP is a privately held Bitcoin mining company positioned to operate at scale globally. Building on the experience and capabilities of its team, the company is focused on delivering efficient, sustainable, and transparent mining operations grounded in operational excellence and deep alignment with Bitcoin ’s principles.

About Northern Data Group:

Northern Data AG (ETR: NB2) is a leading provider of full-stack AI and High Performance Computing (HPC) solutions, leveraging a network of high-density, liquid-cooled, GPU-based technology to enable the world’s most innovative companies. Together with our partners, we are passionate about the potential of HPC to drive both technological and societal transformation.

Northern Data has one of the largest GPU clusters in Europe through its Taiga Cloud business, while its Ardent Data Centers business has approximately 250MW of power deployed or coming online across eight global data centers by 2027. Northern Data enjoys access to cutting-edge chips and hardware for maximum performance and efficiency. At every step, our customers are supported by Northern Data’s best-in-class technologists and engineers for rapid, flexible deployment. To learn more, please visit northerndata.de.

Investor Relations:

Jose Cano
Vice President, Investor Relations
E-Mail: ir@northerndata.de