{"id":879847,"date":"2025-12-23T00:11:30","date_gmt":"2025-12-23T06:11:30","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/12\/23\/northern-data-sells-peak-mining-to-tether-linked-firms-in-deal-worth-up-to-200m\/"},"modified":"2025-12-23T00:11:30","modified_gmt":"2025-12-23T06:11:30","slug":"northern-data-sells-peak-mining-to-tether-linked-firms-in-deal-worth-up-to-200m","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/12\/23\/northern-data-sells-peak-mining-to-tether-linked-firms-in-deal-worth-up-to-200m\/","title":{"rendered":"Northern Data Sells Peak Mining to Tether-Linked Firms in Deal Worth Up to $200M"},"content":{"rendered":"<div>\n<div>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2025\/04\/23090551\/ayan-150x150.jpg\" alt>\n                    <\/p>\n<p>Crypto Journalist<\/p>\n<div>\n<p>Amin Ayan<\/p>\n<div>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2025\/04\/23090551\/ayan-150x150.jpg\" alt>\n                <\/p>\n<div>\n<div>\n<p>Crypto Journalist<\/p>\n<p><span>Amin Ayan<\/span><span class><img decoding=\"async\" src=\"https:\/\/cryptonews.com\/wp-content\/themes\/cryptonews\/images\/verification.svg\" alt=\"Verified\"><\/span>\n                    <\/p>\n<\/p><\/div>\n<div>\n<p>Part of the Team Since<\/p>\n<p>Apr 2025<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div>\n<p>About Author<\/p>\n<p>Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24\/7 Wall St. He has&#8230;<\/p>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n<div>\n<p>Last updated:\u00a0<\/p>\n<p><time datetime=\"2025-12-22T06:29:17+00:00\">December 22, 2025<\/time>\n        <\/p>\n<\/p><\/div>\n<\/div>\n<p><img fetchpriority=\"high\" width=\"1200\" height=\"673\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2025\/12\/22062634\/1766384794-image-1766384578113_optimized.jpg\" alt=\"Northern Data Sells Peak Mining to Tether-Linked Firms in Deal Worth Up to $200M\" decoding=\"async\"  ><\/p>\n<p>Northern Data has reportedly sold its Bitcoin mining subsidiary, Peak Mining, to a group of companies linked to senior executives at stablecoin issuer Tether, in a deal valued at up to $200 million.<\/p>\n<div>\n<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li><span>Northern Data sold Peak Mining to Tether-linked firms in a deal worth up to $200 million.<\/span><\/li>\n<li><span>The transaction preceded Rumble\u2019s acquisition of Northern Data, adding to overlapping financial ties.<\/span><\/li>\n<li><span>Tether remains deeply exposed through a \u20ac610 million loan tied to the deal.<\/span><\/li>\n<\/ul>\n<\/div>\n<p>According to a <a href=\"https:\/\/www.ft.com\/content\/352fc0e3-0f0d-4e72-abe6-dd992b040caa\" target=\"_blank\">report by the Financial Times<\/a>, the buyers include Highland Group Mining, Appalachian Energy, and an Alberta-based company connected to Tether co-founder and chairman Giancarlo Devasini and CEO Paolo Ardoino.<\/p>\n<p>Corporate filings cited in the report show that Devasini and Ardoino serve as directors of Highland Group, while Devasini is listed as the sole director of the Alberta entity.<\/p>\n<h2><span id=\"h-northern-data-sold-peak-mining-ahead-of-rumble-deal\">Northern Data Sold Peak Mining Ahead of Rumble Deal<\/span><\/h2>\n<p>Northern Data first disclosed plans to divest Peak Mining in November but did not name the buyers at the time, as German disclosure rules did not require it.<\/p>\n<p>The transaction took place shortly before video-sharing platform Rumble, in which Tether owns nearly a 50% stake, agreed to acquire Northern Data, adding another layer to what the FT described as a complex web of financial ties.<\/p>\n<p>The ownership and management structure of Delaware-based Appalachian Energy remains unclear.<\/p>\n<p>The Peak Mining sale marks the second attempt to transfer the business to a Devasini-controlled entity.<\/p>\n<p>An earlier deal announced in August with Elektron Energy, valued at $235 million, collapsed following whistleblower allegations.<\/p>\n<figure>\n<div>\n<blockquote data-width=\"550\" data-dnt=\"true\">\n<div lang=\"en\" dir=\"ltr\">\n<p>Episode 9: How Tether Allegedly Uses Undisclosed Related-Party Sales to Move Assets at a Discount<\/p>\n<p>We investigated public filings by Rumble, which show that Northern Data (majority-owned by <a href=\"https:\/\/twitter.com\/Tether_to?ref_src=twsrc%5Etfw\" target=\"_blank\">@Tether_to<\/a>) sold its mining assets to newly formed, obscurely named companies with\u2026 <a href=\"https:\/\/t.co\/59Eanj1bDi\" target=\"_blank\">pic.twitter.com\/59Eanj1bDi<\/a><\/p>\n<\/div>\n<p>\u2014 Cory \ud83e\udda2 Real Bitcoin @ Swan.com (@CorySwan) <a href=\"https:\/\/twitter.com\/CorySwan\/status\/2001667369056506337?ref_src=twsrc%5Etfw\" target=\"_blank\">December 18, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Northern Data has since come under scrutiny from European prosecutors over suspected tax fraud, with company offices reportedly raided in September.<\/p>\n<p>Beyond the mining sale, Tether\u2019s financial exposure to Northern Data remains significant. The company currently carries a \u20ac610 million ($715 million) loan from the stablecoin issuer.<\/p>\n<p>As part of <a href=\"https:\/\/cryptonews.com\/news\/rumble-northern-data-acquisition-all-share-deal-tether-advertising-partnership\/\">Rumble\u2019s acquisition of Northern Data<\/a>, Tether is set to receive half of that loan balance in Rumble shares, while the remainder will be refinanced through a new Tether loan to Rumble, secured against Northern Data assets.<\/p>\n<h2><span id=\"h-tether-expands-rumble-ties-with-100m-ad-deal\">Tether Expands Rumble Ties with $100M Ad Deal<\/span><\/h2>\n<p>Tether has also <a href=\"https:\/\/cryptonews.com\/news\/tether-invests-775m-in-rumble-backing-youtube-alternative-boasting-free-speech\/\">deepened its relationship with Rumble<\/a> through a $100 million advertising agreement and plans to purchase $150 million worth of GPU services as it expands further into Bitcoin mining and artificial intelligence infrastructure.<\/p>\n<p>As reported, <a href=\"https:\/\/cryptonews.com\/news\/rumble-to-launch-bitcoin-tipping-for-51-million-users-in-partnership-with-tether\/\">Rumble was preparing Bitcoin tipping<\/a> for its 51 million monthly users, targeting an early to mid-December rollout after user experience refinements and final bug fixes.<\/p>\n<p>The company is working with MoonPay on in-app crypto wallets and adopted a Bitcoin treasury approach in March, holding 211 BTC worth roughly $22.3 million.<\/p>\n<p>While USDT remains Tether\u2019s core business, with roughly 60% market share and $187 billion in circulation, the company has increasingly branched out into new sectors.<\/p>\n<p>Alongside mining, AI, and media platforms, Tether has explored sports investments, including a $1.1 billion bid for Italy\u2019s Juventus Football Club in December, which was ultimately rejected.<\/p>\n<p>\n                                    <a href=\"https:\/\/news.google.com\/publications\/CAAqKQgKIiNDQklTRkFnTWFoQUtEbU55ZVhCMGIyNWxkM011WTI5dEtBQVAB?ceid=US:en&#038;oc=3\" target=\"_blank\"><\/p>\n<p>                            <svg width=\"20\" height=\"16\" viewBox=\"0 0 20 16\" fill=\"none\">\n                            <path d=\"M19.6 5.36C19.6 5.48 19.6 5.66 19.54 5.78L17.2 12.8V5.6C17.2 4.94 16.66 4.4 16 4.4H12.82L12.52 3.8L11.86 2.36L15.34 3.32L18.58 4.16C19.18 4.28 19.6 4.82 19.6 5.36Z\" fill=\"#FF4131\" \/>\n                            <path d=\"M15.4 0.799997V3.26L11.92 2.3L11.74 1.88C11.44 1.28 10.72 0.979997 10.12 1.22L4.59998 3.38V0.799997C4.59998 0.499997 4.89998 0.199997 5.19998 0.199997H14.8C15.1 0.199997 15.4 0.499997 15.4 0.799997Z\" fill=\"#03A846\" \/>\n                            <path d=\"M12.82 4.4H4.00002C3.34002 4.4 2.80002 4.94 2.80002 5.6V11.42L0.520024 6.5C0.460024 6.26 0.400024 6.08 0.400024 5.9V5.84C0.400024 5.3 0.700024 4.82 1.24002 4.64L4.60002 3.32L10.06 1.22C10.72 0.979997 11.44 1.28 11.68 1.88L11.86 2.3L12.52 3.74L12.82 4.4Z\" fill=\"#FDBD04\" \/>\n                            <path d=\"M17.2 5.59999V14.6C17.2 15.26 16.66 15.8 16 15.8H4.00005C3.34005 15.8 2.80005 15.26 2.80005 14.6V5.59999C2.80005 4.93999 3.34005 4.39999 4.00005 4.39999H16C16.66 4.39999 17.2 4.93999 17.2 5.59999ZM9.40005 9.79999H7.00005V11H7.90005C7.60005 11.36 7.18005 11.6 6.70005 11.6C5.86005 11.6 5.20005 10.94 5.20005 10.1C5.20005 9.25999 5.86005 8.59999 6.70005 8.59999C7.12005 8.59999 7.48005 8.77999 7.78005 9.01999L8.62005 8.17999C8.14005 7.69999 7.48005 7.39999 6.70005 7.39999C5.20005 7.39999 4.00005 8.59999 4.00005 10.1C4.00005 11.6 5.20005 12.8 6.70005 12.8C7.90005 12.8 8.86005 12.08 9.22005 11C9.34005 10.7 9.40005 10.4 9.40005 10.1C9.40005 9.97999 9.40005 9.91999 9.40005 9.79999ZM14.8 7.39999H10.6V8.59999H14.8V7.39999ZM16 9.79999H10.6V11H16V9.79999ZM14.8 12.2H10.6V13.4H14.8V12.2Z\" fill=\"#0284FE\" \/>\n                            <\/svg><br \/>\n                                                                    Follow us on Google News                                    <\/a>\n                                <\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/cryptonews.com\/news\/northern-data-sells-peak-mining-to-tether-linked-firms-in-deal-worth-up-to-200m\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Tomi Schildgen<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto Journalist Amin Ayan Crypto Journalist Amin Ayan Part of the Team Since Apr 2025 About Author Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24\/7 Wall St. He has&#8230; Last updated:\u00a0 December 22, 2025 Northern<\/p>\n","protected":false},"author":1,"featured_media":879848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24427,3063],"tags":[],"class_list":{"0":"post-879847","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-northern","8":"category-sells"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/879847","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=879847"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/879847\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/879848"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=879847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=879847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=879847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}