Northern Data sold its Bitcoin mining arm, Peak Mining, to companies tied to Tether executives, the Financial Times reported. The report described the transaction as worth up to $200 million.
The Tether Northern Data link matters because Northern Data is described as majority owned by Tether in the same report. As a result, the Peak Mining sale put related party questions back in focus.
The buyers were Highland Group Mining, Appalachian Energy, and an Alberta based company, according to the Financial Times report. The report named Giancarlo Devasini and Paolo Ardoino as the key executives connected to those entities.
Peak Mining sale ties to Tether executives Giancarlo Devasini and Paolo Ardoino
The Financial Times report said filings listed Highland Group Mining directors as Giancarlo Devasini and Paolo Ardoino. It also said the Alberta company listed Devasini as its sole director.
The report did not identify the manager of Delaware based Appalachian Energy. Still, the Peak Mining sale went to businesses connected to Tether executives, based on the records the FT cited.
Northern Data announced the Peak Mining divestment in November. However, it did not name the buyers then. The FT said German disclosure rules did not require the company to identify them.
Rumble Northern Data deal overlaps with Peak Mining sale and Tether ties
The Peak Mining sale happened just before Rumble agreed to acquire Northern Data, the report said. Tether holds nearly a 50% stake in Rumble, based on the same account.
The Rumble Northern Data deal connected back to existing financing. Northern Data has a €610 million loan from Tether, according to the Financial Times report.
The FT said Tether would receive half of the loan balance in Rumble stock as part of the acquisition. It also said the rest would be paid through a new Tether loan to Rumble, secured against Northern Data assets.
Elektron Energy deal talks failed as prosecutors probe Northern Data
The Peak Mining sale also followed an earlier failed attempt. The report called it the second effort to sell Peak Mining to a Devasini linked company.
That first proposed deal was announced in August. It involved Elektron Energy and a stated price of $235 million, the FT said. The plan later collapsed after whistleblower allegations, according to the report.
Separately, Northern Data faces an investigation by European prosecutors for suspected tax fraud, the FT said. The report added that authorities raided company offices in September.
Tether Northern Data funding expands beyond stablecoins into mining and AI
The Financial Times report described a broader set of ties around Tether Northern Data and Rumble. It said Tether agreed to a $100 million advertising deal with Rumble.
The FT also said Tether planned to buy $150 million worth of GPU services from Rumble. It framed that spending as part of Tether activity linked to mining and AI.
The report also restated Tether’s stablecoin scale. It said USDT has a 60% market share and $187 billion in circulating supply.
Tether Juventus bid adds another link in the Financial Times report
The Financial Times report said Tether has also explored sports ownership. It said Tether launched a $1.1 billion bid to buy Juventus Football Club on December 12.
The report said Juventus owners rejected that offer. It placed the bid alongside the Peak Mining sale and the Rumble Northern Data deal.
Together, these details kept the Tether Northern Data network at the center of the FT account, with Peak Mining, financing, and corporate filings driving the story.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: December 22, 2025 • 🕓 Last updated: December 22, 2025
