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MarketScreener Homepage  >  Equities  >  Deutsche Boerse AG  >  Northern Data AG    NB2   DE000A0SMU87

NORTHERN DATA AG

(NB2)
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PRESS RELEASE: Northern Data sells Texas data center operations to Riot Blockchain Inc. for approximately EUR 550 million - operational EBITDA guidance for fiscal year 2021 remains unchanged

04/08/2021 | 07:37am EDT
DGAP-News: Northern Data AG / Key word(s): Strategic Company Decision/Change in Forecast 
Northern Data sells Texas data center operations to Riot Blockchain Inc. for approximately EUR 550 million - 
operational EBITDA guidance for fiscal year 2021 remains unchanged 
2021-04-08 / 13:35 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
PRESS RELEASE / IR RELEASE 
Northern Data sells Texas data center operations to Riot Blockchain Inc. for approximately EUR 550 million - 
operational EBITDA guidance for fiscal year 2021 remains unchanged 
 
  . Due to strong, profitable growth of remaining six sites within Northern Data's multi-site strategy, operational 
    EBITDA guidance for fiscal year 2021 remains unchanged 
  . Additional eight new highly efficient locations in development worldwide 
  . All newly developed sites are entirely based on renewable energy sources 
Frankfurt am Main - April 8, 2021 - Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), a leading developer and operator 
of High-Performance-Computing ("HPC") infrastructure solutions, sells its U.S. subsidiary Whinstone Inc., which 
operates a high-performance data center facility based in Rockdale, Texas, to Riot Blockchain Inc. (NASDAQ: "RIOT"), 
one of the largest U.S. based publicly-traded bitcoin miners in North America. The consideration in the transaction 
consists of EUR 67 million in cash component (cash and debt-free) and 11.8 million shares of common stock of Riot 
Blockchain Inc., which, based on the Riot Blockchain Inc. last closing share price (record date April 7, 2021: USD 
48.37), corresponds to a total value of EUR 481 million. Consequently, the total volume of the transaction amounts to 
approximately EUR 548 million. Upon closing of the transaction, Northern Data AG will own approximately 12% of the 
total outstanding common stock of Riot Blockchain Inc. 
Northern Data AG pursues a multi-site strategy with strong focus on value-accretive HPC business. The Company's 
leadership in cost, speed, availability and scale maximizes hardware profitability and is rewarded by adequate profit 
share agreements as well as fix base remunerations. 
The Company pursues a clear strategic roadmap using the transaction proceeds to further expand its six existing HPC 
locations in Canada, Germany, the Netherlands and Scandinavia, including the new ultra-efficient Boden Facility in 
Sweden. Given all sites in operation and construction are already sold out, the proceeds will allow Northern Data to 
directly accelerate the development of eight new HPC locations in North America and Europe. Concerning the eight new 
sites in development, the Company further diversifies geographically and will expand even beyond in the coming years. 
The sites stand out by time to market of 2-4 months, data sovereignty principles, tier 3 DC standards and 
sustainability attributes such as renewable energy usage of >90%, mild climate (around 6 degrees C) and Northern Data's 
proprietary software-controlled cooling solution leading to an above-market standard power usage effectiveness (PUE) of 
around 1.04. All newly developed sites are entirely green and the Company is building towards a circular ecosystem. 
The Company's strategic roadmap is set and the corresponding growth goals for the next years are already covered by the 
new sites in planning as well as the placed hardware orders. As a result, the Company will be able to meet the 
exponentially growing customer demand for high-performance computing power for a broad range of applications, including 
artificial intelligence, autonomous driving, graphics rendering, blockchain businesses such as Bitcoin mining and other 
scientific use cases. 
Riot intends to not only utilize Whinstone's existing operational capacity for their own mining operations but also to 
scale capacity and establish themselves as the leading Bitcoin miner in the US. By becoming a minority shareholder in 
Riot going forward, through its equity stake in Riot, Northern Data will be able to benefit from the synergies 
generated by the transaction and continues to directly participate in the growth of Bitcoin value potential. 
"Northern Data has been able to create a versatile multi-site network of efficient HPC capabilities with an 
industry-leading sustainability focus by offering secured access to renewable energy sources. With the proceeds from 
the transaction, we can accelerate our expansion significantly and reinforce the focus on value-accretive HPC 
services," said Aroosh Thillainathan, CEO of Northern Data AG. 
Due to the strong, profitable growth of the other data center sites the operating EBITDA forecast for 2021 in the order 
of EUR 100 million to EUR 125 million remains unchanged. The operating EBITDA forecast includes the YTD business 
performance, but no one-off effects from the transaction and effects from the current fiscal year of Whinstone US Inc. 
in the order of a mid-three-digit million-euro range. Accordingly, the reporting of Northern Data AG will be continued 
without the consolidation of Whinstone US Inc. in the future. The company now expects to generate revenues in the 
amount of EUR 285 million to EUR 325 million in fiscal year 2021. Originally, revenues of EUR 350 million to EUR 400 
million and EBITDA of EUR 100 million to EUR 125 million were forecast. For the years to come, management expects a 
continuation of the strong profitable growth. 
Greenhill is serving as exclusive financial adviser to Northern Data. Sullivan & Cromwell LLP is acting as legal 
counsel to Northern Data. 
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 company was formed from the merger of the German company Northern Bitcoin AG and the American 
company Whinstone US, Inc. and 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: jens-philipp.briemle@northerndata.de 
Phone: +49 171 557 6989 
=---------------------------------------------------------------------------------------------------------------------- 
2021-04-08 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 
=---------------------------------------------------------------------------------------------------------------------- 
Language:     English 
Company:      Northern Data AG 
              An der Welle 3 
              60322 Frankfurt/Main 
              Germany 
Phone:        +49 69 34 87 52 25 
E-mail:       info@northerndata.de 
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:  1182113 
 
End of News   DGAP News Service 
=------------ 

1182113 2021-04-08

(END) Dow Jones Newswires

April 08, 2021 07:36 ET (11:36 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO -2.16% 51760.32 Real-time Quote.123.90%
BITCOIN - UNITED STATES DOLLAR -1.98% 61979.19 Real-time Quote.118.85%
GREENHILL & CO., INC. 5.00% 18.91 Delayed Quote.47.20%
NASDAQ COMP. 0.10% 14052.342146 Delayed Quote.8.93%
NORTHERN DATA AG -6.97% 106.8 Delayed Quote.43.86%
RIOT BLOCKCHAIN, INC. -7.21% 44.64 Delayed Quote.183.17%
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Financials
Sales 2020 130 M 155 M 155 M
Net income 2020 11,9 M 14,2 M 14,2 M
Net cash 2020 20,3 M 24,3 M 24,3 M
P/E ratio 2020 149x
Yield 2020 -
Capitalization 1 410 M 1 686 M 1 688 M
EV / Sales 2020 10,7x
EV / Sales 2021 3,27x
Nbr of Employees 8
Free-Float 94,5%
Chart NORTHERN DATA AG
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Northern Data AG Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Average target price 152,00 €
Last Close Price 114,80 €
Spread / Highest target 82,9%
Spread / Average Target 32,4%
Spread / Lowest Target 1,05%
EPS Revisions
Managers and Directors
NameTitle
Aroosh Thillainathan Chief Executive Officer
Mathias Dähn Chief Financial Officer
Tom Oliver Schorling Chairman-Supervisory Board
Andreas Lange Chief Technological Officer
Stefan Sickenberger Chief Operating Officer
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