Northern Data Group announced it has secured a EUR 575 million debt financing facility. The funding was provided by Tether Group and is a strong endorsement of Northern Data's strategy and potential dominance in the marketplace. The facility will primarily strengthen Northern Data Group's ability to invest in the most sophisticated hardware available, which is needed to unlock access to Generative AI technology in Europe.

Through its subsidiary Taiga Cloud, Europe's first and largest Generative AI Cloud Service Provider, Northern Data Group provides energy-efficient compute power to businesses and research institutions, powered by the latest NVIDIA hardware. The successful signing of the debt facility follows Northern Data's purchase of 20 highly sought-after NVIDIA H100 GPU Pods via the acquisition of Damoon and affirms Taiga's position as Europe's largest independent CSP of NVIDIA hardware and its status as an Elite NVIDIA partner. Taiga is in advanced discussions to close further purchases.

In addition to supporting Taiga Cloud's growth, the new financing is also intended to be used to expand Northern Data's portfolio of data centers through Ardent Data Centres, the Group's data center infrastructure business, and enhance the Group's existing operations. Northern Data Group intends also to scale its Bitcoin mining operations and bolster blockchain advancement with purpose-built, liquid-cooling mining technology through Peak Mining, the Group's Bitcoin mining company.