Northern Data AG, Europe's largest Bitcoin (CRYPTO:BTC) miner, is exploring an initial public offering (IPO) for its cloud computing and data center divisions in the United States, aiming for a valuation of up to $16 billion.

The IPO, anticipated in the first half of 2025 on Nasdaq, would involve listing its "Taiga" and "Ardent" entities separately, alongside potential consideration for its Bitcoin mining arm, Peak Mining.

Originally founded as Northern Bitcoin AG in Germany in 2009, the company has grown to encompass significant operations in high-performance computing and Bitcoin mining.

Northern Data's expansion plans include further development of its U.S. Bitcoin mining unit, slated to eventually provide up to 40 exahashes of computing power.