Tether's Northern Data Sells Bitcoin Mining Business Amid Complex Financial Ties

According to ChainCatcher, Northern Data, a German AI data center operator partially owned by Tether, sold its Bitcoin mining business, Peak Mining, for up to $200 million in November. The buyers include Highland Group Mining and Appalachian Energy, companies whose directors are Tether co-founder Devasini and CEO Ardoino, highlighting potential conflicts of interest. This transaction occurred shortly after Rumble, a social media platform in which Tether holds nearly a 50% stake, announced a $767 million acquisition of Northern Data. The entities involved have intricate financial connections: Northern Data has a €610 million loan from Tether, and Tether has signed a $100 million advertising agreement and a $150 million GPU services procurement plan with Rumble. In September, Northern Data was investigated by European prosecutors for alleged VAT fraud exceeding €100 million.