Tether-Owned Northern Data Sold Miner Arm to Tether Execs
Northern Data sold its Tether-backed Bitcoin mining unit, Peak Mining, for up to $200 million to three firms controlled by Tether’s top executives, Giancarlo Devasini and Paolo Ardoino. These include Highland Group Mining, Appalachian Energy, and a Canada-based company, with directorships traced to the executives. The sale took place prior to video platform Rumble—half-owned by Tether—acquiring Northern Data. A previous sale attempt to another Devasini-linked firm collapsed following whistleblower claims. Northern Data is under European investigation for alleged tax fraud, with offices recently raided. As part of Rumble’s acquisition, Tether will receive part of its €610 million loan to Northern Data in Rumble stock and the rest through a new loan. Tether, the world’s largest stablecoin issuer, is rapidly expanding into Bitcoin mining, AI, and media, and recently made a failed $1.1 billion bid for Italian soccer club Juventus.
