Tether-backed Northern Data sold mining firm to Tether execs: FT
Northern Data, a Tether-backed data center operator, sold its Bitcoin mining business, Peak Mining, for up to $200 million to three companies run by Tether executives, including its co-founder and CEO. The sale occurred just before Rumble, a video-sharing platform in which Tether holds a major stake, agreed to acquire Northern Data. This is the second attempt to sell the mining unit to a Tether-linked entity. Northern Data is under investigation in Europe for suspected tax fraud and has a complex financial relationship with Tether, including a €610 million loan. The sale highlights Tether's expanding interests beyond stablecoins into mining, AI, and other ventures.
cointelegraph12/22 05:39
