Northern Data, a Tether-backed data center operator, sold its Bitcoin mining business, Peak Mining, for up to $200 million to companies run by Tether executives. The deal was with Highland Group Mining, Appalachian Energy, and an Alberta-based company led by Giancarlo Devasini and Paolo Ardoino. The buyers were not initially disclosed.

Highland Group Mining’s directors are Devasini and Ardoino, while Devasini is the sole director of the Alberta company. The owner of Delaware-based Appalachian Energy remains unknown. Northern Data announced the Peak Mining divestment in November but did not reveal the buyers due to regulatory reasons. The sale occurred before Rumble, a platform partly owned by Tether, agreed to acquire Northern Data.

Northern Data faced an investigation for tax fraud, with its offices raided in September. Tether has deepened its involvement in various sectors, including AI, video-sharing, and Bitcoin mining. Tether holds a significant stake in Rumble and has agreed on a $100 million advertising deal with the platform. Northern Data currently has a 610 million euro loan from Tether.

Tether is expanding beyond stablecoins, venturing into Bitcoin mining, AI, and even sports teams. It recently launched a $1.1 billion bid to acquire Juventus Football Club, which was ultimately rejected by the club’s owners. Tether remains a dominant force in the stablecoin sector, with a 60% market share and $187 billion in USDT circulating supply.

Read more at Cointelegraph: Tether-Owned Northern Data Sold Miner Arm to Tether Execs