PRESS RELEASE : Northern Data acquires server systems with some 223,000 GPUs from Block.one for a total price in the amount of approximately EUR 365 million

DGAP-News: Northern Data AG / Key word(s): Mergers & Acquisitions/Capital Increase 
Northern Data acquires server systems with some 223,000 GPUs from Block.one for a total price in the amount of 
approximately EUR 365 million 
2021-08-12 / 14:37 
The issuer is solely responsible for the content of this announcement. 
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PRESS RELEASE / IR RELEASE 
Northern Data acquires server systems with some 223,000 GPUs from Block.one for a total price in the amount of 
approximately EUR 365 million 
 
  . Northern Data signs an agreement with Block.one covering the acquisition of a 100% interest in Decentric Europe BV 
    for approximately EUR 365 million. 
  . Immediate access to the hardware. 
  . Hardware powered with 100% renewable energy. 
  . The GPU hardware includes approximately 223,000 AMD and Nvidia GPU cards in over 24,000 server systems. 
  . Possibility of expanded commercial use of the RAM and server memory as well as the approximately 500,000 CPU cores 
    of the AMD EPYC processors. 
  . The transaction involves a cash component in the amount of EUR 195 million to be paid within 12 months as well as 
    approximately EUR 170 million in new shares (2.3 million shares) from a capital increase in kind effected through 
    issuance of the Company's registered authorized capital exclusive of any shareholder subscription rights. The 
    capital increase was approved today. 
  . Taking into account this transaction, Block.one will hold an interest of approximately 18.2% in Northern Data. 
  . The acquisition will support vertical integration along the value-added chain in the area of high-performance cloud 
    computing. 
  . Northern Data will complete the full installation of all GPU server systems at its sites by the end of the third 
    quarter of 2021. 
  . The Company is currently working on further strategic steps that will accelerate expansion of HPC business for 
    applications that expand beyond blockchain use cases. 
Frankfurt am Main - August 12, 2021 - Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), a leading infrastructure 
supplier for HPC applications and Bitcoin mining, has agreed to purchase Decentric Europe BV from Block.one and will, 
as a result, acquire all of Decentric's GPU hardware. This GPU hardware includes approximately 223,000 GPU cards 
produced by AMD and Nvidia, which are installed in more than 24,000 server systems of GIGABYTE Technology, a vendor of 
high-performance servers. 
The large-scale project launched by Northern Data to build one of the world's largest GPU-based distributed computing 
clusters for HPC applications will involve locations in Norway, Sweden, the Netherlands and Germany. Apart from the 
infrastructure solutions, which include locations, data centers and technical equipment, the hardware acquisition 
represents a strategic asset build-up that complements Northern Data's existing high-performance servers. 
The transaction involves a cash component in the amount of EUR 195 million to be paid within 12 months as well as 
approximately EUR 170 million in new shares (2.3 million shares) from a capital increase in kind effected through 
issuance of the Company's registered authorized capital exclusive of any shareholder subscription rights. The capital 
increase was approved today.[]Taking into account this transaction, Block.one will hold an interest of approximately 
18.2% in Northern Data. 
Thanks to this acquisition the Company will be in a position to market cloud-based HPC applications that feature 
maximum scalability as well as exceptional time- and cost efficiency and exclusive use of renewable sources of energy 
plus compliance with the provisions of German and Norwegian data sovereignty legislation. 
Northern Data will complete the full installation of all GPU server systems at its sites by the end of the third 
quarter of 2021. Expansion of the cluster has in the meantime resulted in immediately deployable computing power of 
1.29 exaflops FP32 or 7.3 terahashes. Following completion of installation by the end of Q3 2021, computing power for 
Northern Data as a whole will come to approximately 2.6 exaflops FP32 (390 petaflops FP64) and approximately 13.86 
terahashes. By way of example, the world's fastest supercomputer, Japan's "Fugaku", delivers 1.07 FP32 exaflops. 
This computing power will be deployed for strategic HPC applications of Northern Data customers such as rendering, 
artificial intelligence, blockchain applications and the internet of things. 
At the same time, the Company is currently working on further strategic steps that will accelerate expansion of HPC 
business for applications that expand beyond blockchain use cases. Northern Data also has very good prospects for the 
future because of its in-depth expertise in the ASIC area and is poised to benefit from future progress in technology 
in the HPC segment as a result of AI ASICS. 
"The acquisition of Block.one's entire portfolio of GPU server systems represents a quantum leap in Northern Data's 
corporate story. We thus now have at our disposal all critical components required to cover the enormous customer 
demand for data-processing capacity in the HPC area. I am particularly proud that the entire cluster is powered 
exclusively by green energy. We will shortly be taking further steps to complement our offering along the value-added 
chain in order to be able to meet the needs of tomorrow's customers by providing everything from hardware to an HPC 
application platform," says Aroosh Thillainathan, Founder & CEO of Northern Data AG. 
"I'm excited to see Northern Data continuing to expand its global capabilities to better serve its growing customer 
base," said Brendan Blumer, CEO of Block.one. "Offering HPC infrastructure solutions that use 100% renewable sources of 
energy is fundamental to sustainably meeting the growing demand for AI and blockchain computational processing". 
Northern Data will generate initial revenue and a corresponding contribution to EBITDA following completion of the 
transaction, which took place immediately after the execution of the agreement. The anticipated positive impact at the 
level of the forecast for the 2021 financial year will be described in detail when the annual report for 2020 is 
published. 
Northern Data intends to enter into negotiations with other companies on comparable transactions in order to 
internalize hardware capacities for mining. Such acquisitions, which could also be concluded in the short term, would 
also be carried out using the existing Authorized Capital 2021 and would therefore not require any further resolution 
by the AGM. Analogous to the Decentric transaction, such transactions could have a positive impact on the revenue and 
earnings situation of Northern Data if successful. 
About Block.one: 
Block.one is the creator of EOSIO, a leading open-sourced blockchain software that provides digital creators with the 
tools to build the high performance blockchain infrastructure of tomorrow. Block.one aims to empower creators and 
communities through strategic capital allocation and pioneers its own business ventures leveraging EOSIO technology to 
increase market efficiency, transparency, and participant alignment. 
About Northern Data: 
Northern Data AG develops and operates global infrastructure solutions in the field of High-Performance Computing 
(HPC). With its customer-specific solutions, the company provides the infrastructure for various HPC applications in 
areas such as bitcoin mining, artificial intelligence, blockchain, big data analytics, IoT or rendering. The 
internationally active is today a leading provider of HPC solutions worldwide. Northern Data offers its HPC solutions 
both in large, stationary data centers and in mobile high-tech data centers that can be set up at any location 
worldwide. The company combines self-developed software and hardware with intelligent concepts for a sustainable energy 
supply. The Northern Data group currently employs around 200 people. 
Investor Relations: 
Jens-Philipp Briemle 
Head of Investor Relations 
An der Welle 3 
60322 Frankfurt am Main 
E-Mail: [e-mail] 
Telefon: [phone] 
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2021-08-12 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
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Language:     English 
Company:      Northern Data AG 
              An der Welle 3 
              60322 Frankfurt/Main 
              Germany 
Phone:        [phone] 
E-mail:       [e-mail] 
Internet:     www.northerndata.de 
ISIN:         DE000A0SMU87 
WKN:          A0SMU8 
Listed:       Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), 
              Stuttgart, Tradegate Exchange 
EQS News ID:  1225825 
 
End of News   DGAP News Service 
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1225825 2021-08-12

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August 12, 2021 08:37 ET (12:37 GMT)