Financial Times: Tether executives sell company assets to controlled entity.

According to a report by the Financial Times, Northern Data, a German AI data center operator owned by Tether, sold its Bitcoin mining business, Peak Mining, for up to $200 million in November. Regulatory filings show that the buyers include several companies such as Highland Group Mining and Appalachian Energy, whose directors include Tether co-founder Devasini and CEO Ardoino, highlighting potential conflicts of interest. This sale came days before Rumble, a social media platform in which Tether holds a nearly 50% stake, announced its $767 million acquisition of Northern Data. The three parties have complex financial ties: Northern Data has €610 million in Tether loans, and Tether has also signed a $100 million advertising agreement and a $150 million GPU service procurement plan with Rumble. Northern Data was searched by European prosecutors in September for allegedly committing over €100 million in VAT fraud.