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Germany's Northern Data rejects allegations of market manipulation

By Reuters

– Northern Data AG said on Tuesday it rejected allegations made by Germany’s markets watchdog BaFin last week in a complaint filed with Frankfurt prosecutors over suspected market manipulation.

The company, which provides infrastructure for high-performance computing, said it learned about the complaint from media reports last week and was provided with a copy on Tuesday.

“We reject the allegations made therein, in particular of market manipulation. We are confident that we will clarify the matter in full cooperation with the authorities,” the company said in a statement.

BaFin said on Friday a complaint had been filed.

Northern Data said the subject of the complaint was its acquisition of bitcoin miner Whinstone US Inc., announced in November 2019.

The company’s infrastructure is used in areas including bitcoin mining, blockchain, artificial intelligence, big data analytics, internet of things or rendering, according to its website.