German Authorities Raid Tether-Backed Northern Data AG Amid Crypto and AI Scrutiny

German prosecutors have confirmed police raids on premises linked to Northern Data AG, a Frankfurt-based computing group with ties to cryptocurrency and artificial intelligence. The Frankfurt prosecutor's office declined to specify the targets or objectives of the investigation, promising further details next week.

Northern Data's shares dipped following the news, reflecting investor unease over potential legal repercussions. The company, once a key player in crypto mining infrastructure, has pivoted to AI and cloud computing amid rising energy costs and regulatory pressure.

Earlier this year, Northern Data entered a strategic partnership with Abu Dhabi's G42 to provide cloud computing capacity. The raid underscores growing regulatory attention on firms bridging digital assets and emerging technologies.