Oppenhoff advises Hydro66 Group on the sale of a green data centre to Northern Data AG

Oppenhoff has advised the Canadian Hydro66 Group on the sale of a data centre complex in northern Sweden to Northern Data AG. As part of the sale, all shares in an English holding company of the Hydro66 Group were transferred, including its Swedish subsidiaries. The purchase price consists of €4 million in cash and a package of approximately 338,000 Northern Data shares.

The Hydro66 Group specialises in high performance computing ("HPC") hosting. The "green" data centre now being sold was completed in 2019 and is located near the Arctic Circle. Due to the low average annual temperature, the HPC hardware is supplied with a passive energy-saving cooling system. The electricity is generated entirely from renewable energy from hydropower plants in the region. The site currently consists of six data centre halls over an area of 2.5 hectares and is going to be expanded further after the acquisition of Northern Data.

The listed company Northern Data AG, formerly Northern Bitcoin AG, which is headquartered in Frankfurt am Main, develops and operates global infrastructure solutions. It provides the infrastructure for diverse HPC applications in areas such as bitcoin mining, artificial intelligence, blockchain, Big Data analytics, the Internet of Things, and rendering.

The Oppenhoff team, led by Christof Gaudig, included Dr. Andreas Krebs (both M&A), Dr. Gunnar Knorr (Tax) and Dr. Wolfgang Kotzur (Financing, English Law). Dr. Wolfgang Kotzur, who is also admitted as a solicitor, advised on the English part of the transaction.

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Christof Gaudig

Christof Gaudig


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