This is old news below but from the other side of the deal. Northern Data AG are big owners of Riot. They sold Whinestone to Riot. I get the feeling the share price drop is about something in the wind. Bitcoin price popped over $52K today so Riot MMs will have to be on top of this if they want the price to stay down for some reason, like a deal signing. Who knows but drops like this indicate something. GLA
" Frankfurt am Main – May 27, 2021 – Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) a leading infrastructure supplier for Bitcoin mining and other HPC infrastructure solutions, successfully completed the sale of its U.S. subsidiary Whinstone US, Inc., which operates a high-performance data center facility based in Rockdale, Texas, to Riot Blockchain, Inc. (NASDAQ: “RIOT“). The consideration for the transaction consists of approximately EUR 67 million in cash and 11.8 million shares of common stock of Riot Blockchain, Inc. As a result of the transaction, Northern Data AG holds approximately 12% of the total outstanding common stock of Riot Blockchain, Inc.
“Today marks an important milestone in Northern Data’s young history and its ambition to build a versatile multi-site infrastructure network of efficient high-performance computing sites. With the successful sale and the resulting proceeds thereof Northern Data can further invest in its global asset base focused on providing efficient, fast, green and climate-neutral high-performance computing solutions,” says Aroosh Thillainathan, CEO of Northern Data AG.
Greenhill served as exclusive financial adviser, Sullivan & Cromwell LLP acted as legal counsel to Northern Data AG. "
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