Northern Data Strikes $200M Deal: Sells Peak Mining to Tether-Linked Firms in Major Industry Consolidation

Northern Data just made a power move—selling its Peak Mining division in a deal that could hit a staggering $200 million. The buyers? Firms with deep ties to Tether, the stablecoin giant. This isn't just a transaction; it's a strategic realignment that sends shockwaves through the crypto-mining landscape.

Why This Deal Matters

Forget the boring corporate spin. This is about vertical integration on steroids. Tether-linked capital is now directly plugging into the physical infrastructure that secures blockchain networks. It’s a bold bet on the future of compute—whether for mining the next Bitcoin or powering the AI revolution. Northern Data gets a massive capital infusion, while the buyers secure a heavyweight position in the hardware game.

The $200 Million Signal

Let's talk numbers. A deal worth up to $200 million isn't chump change, even in crypto. It signals institutional-grade conviction in the underlying value of mining assets. While traditional finance might still be scratching its head over digital assets, players with real skin in the game are consolidating power. They’re building the industrial backbone for the next decade, while Wall Street analysts debate whether Bitcoin is a 'risk-on' or 'risk-off' asset—a classic case of missing the forest for the ticker symbol.

The New Mining Powerhouse

This creates a new entity with serious muscle. Combining Northern Data's operational expertise with Tether-aligned financial firepower could create a mining and infrastructure behemoth. Expect efficiency gains, potential expansion, and more strategic moves. It’s a play for dominance, not just survival.

The message is clear: the smart money isn't just trading coins—it's buying the picks and shovels. And sometimes, the smartest move is to sell the mine to the guys who print the digital dollars.

Northern Data Sold Peak Mining Ahead of Rumble Deal

Northern Data first disclosed plans to divest Peak Mining in November but did not name the buyers at the time, as German disclosure rules did not require it.

The transaction took place shortly before video-sharing platform Rumble, in which Tether owns nearly a 50% stake, agreed to acquire Northern Data, adding another LAYER to what the FT described as a complex web of financial ties.

The ownership and management structure of Delaware-based Appalachian Energy remains unclear.

The Peak Mining sale marks the second attempt to transfer the business to a Devasini-controlled entity.

An earlier deal announced in August with Elektron Energy, valued at $235 million, collapsed following whistleblower allegations.

Episode 9: How Tether Allegedly Uses Undisclosed Related-Party Sales to MOVE Assets at a Discount

We investigated public filings by Rumble, which show that Northern Data (majority-owned by @Tether_to) sold its mining assets to newly formed, obscurely named companies with… pic.twitter.com/59Eanj1bDi

Northern Data has since come under scrutiny from European prosecutors over suspected tax fraud, with company offices reportedly raided in September.

Beyond the mining sale, Tether’s financial exposure to Northern Data remains significant. The company currently carries a €610 million ($715 million) loan from the stablecoin issuer.

As part of Rumble’s acquisition of Northern Data, Tether is set to receive half of that loan balance in Rumble shares, while the remainder will be refinanced through a new Tether loan to Rumble, secured against Northern Data assets.

Tether Expands Rumble Ties with $100M Ad Deal

Tether has also deepened its relationship with Rumble through a $100 million advertising agreement and plans to purchase $150 million worth of GPU services as it expands further into Bitcoin mining and artificial intelligence infrastructure.

As reported, Rumble was preparing Bitcoin tipping for its 51 million monthly users, targeting an early to mid-December rollout after user experience refinements and final bug fixes.

The company is working with MoonPay on in-app crypto wallets and adopted a Bitcoin treasury approach in March, holding 211 BTC worth roughly $22.3 million.

While USDT remains Tether’s core business, with roughly 60% market share and $187 billion in circulation, the company has increasingly branched out into new sectors.

Alongside mining, AI, and media platforms, Tether has explored sports investments, including a $1.1 billion bid for Italy’s Juventus Football Club in December, which was ultimately rejected.