Frankfurt-based tech company Northern Data , prominently known for bitcoin mining, has recently transformed its business model into cloud solutions and data center infrastructure. Listed on the Frankfurt Stock Exchange, Northern Data has three core divisions: Peak Mining for bitcoin mining, Taiga Cloud for cloud computing and Ardent Data Centers for data center infrastructure. The company's Taiga Cloud division is certified as an "Elite" partner of Nvidia , making it one of the largest providers of Nvidia-based cloud services in Europe. The investment bank forecasts annual revenues of around 400 million euros and adjusted profits of about 290 million euros from Taiga Cloud from 2026 onward. Northern Data's cloud computing platform is expected to have 20,000 Nvidia AI chips, worth 730 million euros, by the third quarter of 2024, the note said.

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Persons: Gerhard Orgonas, Jenna Xu, Aroosh Thillainathan Organizations: Northern Data, Frankfurt Stock Exchange, Data, Mining, Ardent, Healthcare, Northern Bitcoin, Northern, Nvidia, Data's Locations: Frankfurt, Italy, United States, Northern, Pittsburgh, North Dakota, Texas, Europe