Northern Data Group confirmed on October 21 that it is considering dropping the crypto side of its business to focus more on its artificial intelligence (AI) and high-performance computing (HPC) solutions. The company notes that its Q3 2024 financial results saw strong sequential growth in its AI Solutions business and that by divesting in Peak Mining, the proceeds could further be put towards the growth of its AI product platform.
Aroosh Thillainathan, founder and group CEO of Northern Data, said: “Mining is a foundational part of Northern Data’s heritage and growth story. We remain supporters of blockchain technology and continue to believe in its potential. This commitment means identifying the right steward for this valuable business is of absolute importance, as we solidify our focus on powering AI innovation through best-in-class infrastructure and carbon-neutral energy systems.”
Northern Data Group was initially founded as Northern Bitcoin AG in Germany in 2009 and branded itself as a 'green' Bitcoin mining company. In 2019, it merged with Whinstone US, with the firm's CEO, Aroosh Thillainathan, then became CEO of the joint company. In 2020, Northern Bitcoin was officially renamed Northern Data Group and moved its focus to HPC.
