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Tether Executives Sell Bitcoin Mining Assets to Affiliated Companies

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Bitcoin breaking news: Tether executives sold Peak Mining, a Bitcoin mining business, for up to $200 million to companies linked to Tether co-founder Devasini and CEO Ardoino. The sale happened days before Rumble, a Tether-backed platform, announced a $767 million deal for Northern Data, which owns Peak Mining. Northern Data owes Tether €610 million and is tied to the firm via a $100 million ad deal and a $150 million GPU contract. The firm was also raided in September over alleged VAT fraud. Bitcoin news outlets like MarsBit reported the transaction raises conflict-of-interest concerns.
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