In accordance with CoinEdition, Tether-linked executives have acquired Northern Data’s mining unit, Peak Mining, for up to $200 million through affiliated entities. The deal, finalized after a failed $235 million agreement with Elektron Energy, also controlled by Tether’s Giancarlo Devasini, has drawn scrutiny due to the company’s ongoing EU tax investigation and a pending $767 million acquisition by Rumble, in which Tether holds a 48% stake. Northern Data, a German AI and data center firm majority-owned by Tether, did not disclose the buyers initially, as the German market segment it is listed on does not require related-party transaction reporting. The Peak Mining acquisition occurred ahead of Rumble’s announced business combination with Northern Data, which includes a $150 million GPU services contract and a $100 million advertising agreement with Tether.
Tether-Linked Firms Acquire Northern Data's Peak Mining for $200M
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Summary
Tether-linked firms reportedly acquired Northern Data’s Peak Mining for up to $200 million, per CoinEdition. The deal followed a failed $235 million agreement with Elektron Energy, also controlled by Tether’s Giancarlo Devasini. Northern Data, which operates in AI and data centers, is majority-owned by Tether. The company avoided disclosing the buyers, citing German market rules. The acquisition coincided with Rumble’s pending $767 million buyout, in which Tether holds 48%. Rumble’s deal with Northern Data includes a $150 million GPU services contract and a $100 million ad pact. AI + crypto news continues to spotlight Tether’s expanding influence. Inflation data and market moves could further shape the sector.
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