Northern Data AG is considering the possibility of selling its cryptocurrency mining business to release funds for expanding its artificial intelligence business. The main shareholder of Northern Data is stablecoin issuer Tether Holdings Ltd., which stated in a declaration on Monday that it will use the proceeds from the sale of Peak Mining to focus on its artificial intelligence solutions department.

As a result of this news, Northern Data's stock price rose by 12% at one point and as of 12:06 pm Frankfurt time, the stock price had risen by 9.8%.