S&C Advises Northern Data in Sale of Subsidiary to Riot Blockchain

May 13, 2021

Northern Data AG entered into an agreement with Riot Blockchain Inc., one of the largest U.S.-based publicly-traded bitcoin miners in North America, to sell its U.S. subsidiary, Whinstone US Inc., for $650 million.

Northern Data is a leading global provider of infrastructure solutions in the field of High- Performance Computing. Whinstone, based in Rockdale, Texas, is the owner and operator of North America's largest bitcoin hosting facility.

The S&C team representing Northern Data included Andrew Gerlach, Konstantin Technau and Carsten Berrar. David Spitzer and Michael Orchowski advised on tax matters. Matthew Friestedt and Kristen Klein advised on executive compensation matters. Mehdi Ansari advised on intellectual property matters. Michael Rosenthal, Eric Queen and Bradley Smith advised on antitrust matters. Matt Brennan advised on environmental matters and representations and warranties insurance matters. Eric Kadel, Jr. advised on CFIUS matters.