Tether Executives Discreetly Acquired Northern Data's Mining Division for as Much as $200 Million

Sale of Peak Mining: Northern Data sold its bitcoin mining subsidiary, Peak Mining, for up to $200 million to companies linked to Tether executives, raising governance concerns due to the lack of formal related-party disclosure.

Timing and Strategic Moves: The sale occurred shortly before Tether's acquisition of Northern Data, which involved significant financial commitments from Tether, indicating a strategic alignment between the entities.

Regulatory Scrutiny: The transaction took place amid ongoing regulatory investigations into Northern Data for alleged VAT fraud, highlighting the company's complex financial and operational challenges.

Tether's Mining Strategy: Tether aims to become a leading bitcoin miner, consolidating its mining assets through the Peak Mining acquisition while facing scrutiny over its financial stability and exposure to bitcoin volatility.