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Northern Data - Debt Financing
Overview
Funding Date
November 2, 2023
Financing amount
$609.79M
Valuation
--
Category
About Northern Data - Debt Financing
Northern Data entered into a loan agreement with a company of the Tether Group and secured a EUR 575 million debt financing facility. The facility is unsecured, at standard market conditions and has a term until 1 January 2030. It will enable Northern Data Group to make further investments across its three business lines Taiga Cloud, Ardent Data Centers and Peak Mining. The focus of these investments will be on the acquisition of additional sophisticated hardware allowing Northern Data Group’s Taiga Cloud business to further expand its offering as a Generative Artificial Intelligence Cloud Service Provider in Europe.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Corporate | United States of America | 2014 | 9 | -- |
Company Profile / Project Introduction
Northern Data Group is a specialist B2B Technology Company that provides High Performance Computing (HPC) Solutions. The Group Companies include a state of the art, generative AI cloud platform, reimagined Bitcoin mining operations and next-generation data center infrastructure, with an extensive footprint across Europe, the US and Canada.