Tether's mining company Peak Mining changes ownership as $767 million Rumble acquisition surfaces

ForkMonger · 2025-12-19T05:48:09+00:00

Northern Data under Tether is undergoing asset restructuring, with its Bitcoin mining business Peak Mining being sold to Highland Group Mining and others for up to $200 million. Subsequently, Rumble announced the acquisition of Northern Data for approximately $767 million, despite the company being investigated by the EU for suspected tax fraud, which it has denied and is cooperating with the investigation.

ForkMonger

2025-12-19 05:48:09

Abstract generation in progress

【Blockchain Rhythm】On December 19, there were reports that Tether’s AI data center operator Northern Data is undergoing asset restructuring. Its Bitcoin mining business Peak Mining was sold for up to $200 million, with the buyer being entities controlled by Tether founder Giancarlo Devasini and CEO Paolo Ardoino, including Highland Group Mining and 2750418 Alberta ULC.

What’s more notable is that shortly after this transaction was disclosed, Tether, which holds nearly 50% of the social platform Rumble, announced it would acquire Northern Data for approximately $767 million. Behind these series of actions, Northern Data’s situation seems to be changing — the company was previously subjected to a surprise investigation by the European Union, accused of large-scale tax fraud, but Northern Data later denied the allegations and stated that it is cooperating with the investigation.

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SelfSovereignSteve

· 2025-12-22 05:16

Left hand倒右手, it's this routine again... Tether plays it slick --- Ngl, I feel that Rumble's acquisition of 767 million is a bit outrageous, just to get back Northern Data? --- Wait, Peak Mining only sells for 200 million and the whole Northern Data is 767 million? The numbers don't add up, buddy --- Tether's operation really confuses me, buying their own stuff and then using Rumble to catch a falling knife... This is what you call playing well --- It's really just money moving from left pocket to right pocket, I don't understand but I'm greatly shocked --- Paolo and Giancarlo: Are we short on cash? No, we just like to shuffle --- So basically it's just an asset transfer within the USDT system, Rumble just took the order?

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PoolJumper

· 2025-12-21 08:12

Tether's operations this time are truly incredible, shifting from one hand to the other, selling Peak Mining to its own people, and then letting Rumble catch a falling knife with Northern Data, is this really Compliance?

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AirdropLicker

· 2025-12-19 06:18

Wow, Tether's move is brilliant—selling their mining business and then Rumble buying it back? This strategy is really slick.

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CryptoCrazyGF

· 2025-12-19 06:18

Left hand flipping right hand, is this what you call "liquidity"? Haha --- Tether's move is brilliant, their own people circle around to buy in, I’m cracking up --- No, Peak Mining sells to their own people and then gets acquired by Rumble at a high price, this script is way too obvious --- Both Tether and Rumble, playing puppet shows here --- So in the end, it's still those people's money circulating inside, we're just watching the fun --- I give this move a full score, even listed companies don't play this well --- Northern Data's restructuring feels a bit like they're shedding baggage --- Wait, is the 767 million real money or another round of shell game? --- Crypto world is like this, the more you look, the more chaotic it gets. Might as well stop watching

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OnchainArchaeologist

· 2025-12-19 06:17

Left hand flipping to the right hand? This move is pretty clever. What is Tether playing at? Their own people are taking over mining, then they turn around and let Rumble acquire the entire Northern Data. I’m a bit confused about this logical chain. Spending 767 million to acquire a company that is selling off assets—Is Rumble taking over or taking the fall? No, Peak Mining only sold for 200 million, and Northern Data is only 767 million in total? These numbers don’t add up. What big game are Paolo and Giancarlo playing? It feels like the Tether group is reorganizing its assets. Wait, how did Rumble come to hold 50% of the shares? I hadn’t paid attention before. Highland Group Mining is taking over the mining business—are they helping Tether with accounting, or are they truly operating independently? I’m starting to smell the self-trading flavor from Tether, but who in Web3 isn’t doing that?

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GasGuru

· 2025-12-19 05:56

Tether's move this time is truly impressive, switching hands left and right, assets circulating among their own people... Is this the so-called "ecosystem closed loop"? Laughable, all the money is just moving within the family accounts.

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