European Bitcoin mining company Northern Data AG has announced plans to raise €214 million through a 20% capital increase, issuing 10.7 million new shares.

German Bitcoin (BTC) mining company Northern Data AG is set to bolster its operations through a significant capital increase, which is expected to boost its financial reserves by approximately €214 million.

In a Jul. 15 press release, the Frankfurt-headquartered company said that it plans to issue 10,699,446 new bearer shares, amounting to 20% of its current share capital, a move that is expected to fuel the expansion of the company’s cloud platform, and expanding its physical data center presence across Europe and the U.S.

The company also aims to use the raised capital to enhance its infrastructure to support advancements in …