Northern Data Group's Peak Mining purchases a second 300MW data center
location in Corpus Christi, Texas

EQS-News: Northern Data AG / Key word(s): Cryptocurrency / Blockchain
Northern Data Group's Peak Mining purchases a second 300MW data center
location in Corpus Christi, Texas

24.05.2024 / 20:25 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Correction of a release from 24/05/2024


PRESS RELEASE / IR NEWS

Northern Data Group's Peak Mining purchases a second 300MW data center
location in Corpus Christi, Texas

  * The location expands on an adjacent 300MW site, purchased in December
    2023

* The site comes with an ERCOT-approved interconnect of 300MW

  * Construction already underway, with long-lead time items secured and
    energization scheduled for early 2025

Frankfurt/Main - 24 May 2024 - Peak Mining, part of Northern Data Group,
announces the purchase of a second 300MW ERCOT-approved site in Corpus
Christi, Texas. The location is adjacent to Peak's first 300MW mining
facility already under construction. The site will operate in the attractive
Load Zone South of the ERCOT grid, known for its abundance of renewable
(wind) energy.

The investment represents a significant step forward in Northern Data
Group's investment strategy, cementing expansion plans well beyond the
current 2024 financial year.

The new site enables Peak Mining to accelerate its ambition to become one of
the largest bitcoin miners globally. The company will be deploying indoor,
custom-designed, fully integrated, and liquid-cooled HPC data center systems
to drastically improve deployment time and lower infrastructure costs.

Saxet Infrastructure Group ("Saxet") will serve as construction manager for
the additional Corpus Christi project and oversee the design, build, and
energization of the substation and basic infrastructure for the second
phase. The Saxet team brings a strong track record of project management and
deep expertise with HPC infrastructure.

Niek Beudeker, Managing Director, Peak Mining, commented:

"The purchase of this second large site will significantly shorten our time
to hashing and kick off one of the fastest mining expansions globally. We
now have almost 700MW of HPC data centers in active construction or
development that, when fully deployed with the latest-generation hardware,
could potentially provide up to 40EH of hash rate."

Aroosh Thillainathan, Northern Data Group's Chief Executive Officer,
commented:

"This second large data center location demonstrates how Northern Data Group
is able to harness the power and opportunity of HPC. We are at the forefront
of a high-growth HPC era, and this acquisition is a significant step towards
our growth ambitions."

Steven Quisenberry, Chief Executive Officer at Saxet Infrastructure Group,
commented:

"We are excited to expand our relationship with Peak Mining and support
Northern Data Group in its growth plans. Northern Data Group is leading the
way with a focus on industrial scale HPC and we are aligned to that goal."

Northern Data Group was advised on the transaction by Katten Muchin Rosenman
LLP (Legal Counsel), BitOoda Technologies LLC and Cohen & Company Capital
Markets, a division of J.V.B. Financial Group, LLC (Finance and Strategic
Advisory). MJC Partners, LLC served as exclusive financial advisor to the
sellers.

About Peak Mining

Peak Mining, part of the Northern Data Group, is powering the future of the
blockchain network. We deliver industry-leading operating and energy
efficiency in bitcoin mining through the latest hardware alongside
innovative technology and infrastructure. With our mining heritage dating
back to 2013, we've been innovating for over a decade and have been at the
forefront of the industry ever since. Our high-quality infrastructure is
purpose-built to power the mining network, and we're driven to continuously
find new efficiencies driving value for our investors. We're delivering long
term value in more responsible ways.

About Northern Data Group

Northern Data Group (ETR: NB2) is a leading provider of High Performance
Computing (HPC) solutions to businesses and research institutions, utilizing
GPU- and ASIC-based solutions. Our flexible compute power fuels innovation
in our three core business divisions: Taiga Cloud, Ardent Data Centers, and
Peak Mining. Through our HPC solutions, we pioneer ambitious computing
innovation that drives progress in the AI, ML and Generative AI industries.
Our close collaboration with industry-leading manufacturers including
Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation
across sectors including life sciences, financial services, and energy.

Investor Relations:

Jens-Philipp Briemle
Head of Investor Relations
An der Welle 3
60322 Frankfurt am Main
E-Mail: jens-philipp.briemle@northerndata.de
Telefon: +49 171 557 6989

Media enquiries:

Hawthorn Advisors
Email: northerndata@hawthornadvisors.com


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24.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        Northern Data AG
                   An der Welle 3
                   60322 Frankfurt/Main
                   Germany
   Phone:          +49 69 34 87 52 25
   E-mail:         info@northerndata.de
   Internet:       www.northerndata.de
   ISIN:           DE000A0SMU87
   WKN:            A0SMU8
   Listed:         Regulated Unofficial Market in Berlin, Dusseldorf,
                   Frankfurt, Hamburg, Hanover, Munich (m:access),
                   Stuttgart, Tradegate Exchange
   EQS News ID:    1911055

End of News EQS News Service
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1911055 24.05.2024 CET/CEST