Northern Data Group is contemplating the sale of its Bitcoin mining business, Peak Mining, to shift its focus towards artificial intelligence (AI) solutions. Majority-owned by Tether, the company seeks to use the proceeds from the potential sale to enhance its generative AI platform, invest in data centers, and acquire high-performance GPUs for AI applications. The divestment aligns with Northern Data's strategy to transform into a dedicated AI solutions provider, aiming to create an accessible and sustainable AI ecosystem for its customers. The company reported revenues of approximately $28 million and $64 million in the second and third quarters of 2024, but did not specify the revenue contributions from mining operations. The demand for data processing and AI capabilities is expected to surge, reinforcing Northern Data's pivot towards AI, especially amidst forecasts of significant increases in data center power consumption by 2030 due to AI usage.

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