On July 2, Bloomberg reported that Bitcoin miner Northern Data is considering an initial public offering (IPO) in the United States as early as the first half of next year. The entity will be backed by a cloud computing service called Taiga and its company called Ardent. The data center merger went public, and banks suggested valuing the business at between $10 billion and $16 billion. Northern Data may also sell a minority stake in the unit to investors before going public. Tether previously provided a $610 million credit facility to Northern Data in November 2023 and purchased shares of Northern Data AG in September 2023.