Northern Data Sells Bitcoin Mining Business for Up to $200 Million

According to BlockBeats, Northern Data, an AI data center company under Tether, has sold its Bitcoin mining business, Peak Mining, for up to $200 million. The buyer is a company controlled by Tether's founder Giancarlo Devasini and CEO Paolo Ardoino, including Highland Group Mining and 2750418 Alberta ULC. Following the announcement of this transaction, Tether, which holds nearly 50% of shares in the conservative social platform Rumble, agreed to acquire Northern Data for approximately $767 million. Earlier this year, Northern Data was subject to a surprise investigation by the European Union over allegations of large-scale tax fraud, which the company has denied, stating that it is cooperating with the investigation.