Germany’s Bitcoin mining company Northern Data is in talks with potential advisers for a U.S. initial public offering next year. The European crypto mining giant is considering an IPO for its AI cloud computing and data center businesses in the U.S. The IPO is expected to value the entity between $10 billion and $16 billion, with the possibility of selling a minority stake before the listing. Northern Data is currently in talks with potential advisers and may mandate lead banks in the coming months. The decision to combine its AI and data center units is unclear, as the company had previously considered separate IPOs for each. Following the news, Northern Data shares surged over 5% on the XETRA stock exchange. In September 2023, Tether announced a collaboration with Northern Data for initiatives in AI, peer-to-peer communications, and data storage solutions. The stablecoin issuer did not disclose financial details of the deal.