Tether-Backed Northern Data Sells Mining Unit for Up to $200 Million

2025-12-22 02:18

Northern Data, backed by Tether, has sold its Peak Mining unit to a company associated with Tether executives Giancarlo Devasini and Paolo Ardoino. The transaction is valued at up to $200 million. This follows a previous $235 million offer to another entity linked to Devasini. The sale occurs as Northern Data faces regulatory scrutiny over tax claims, and amid broader market influences from inflation data. Tether continues to expand its presence in the Bitcoin mining sector.

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