Northern Data has sold its bitcoin mining business to a company operated by Tether executives.

According to a report by Jinse Finance, citing the Financial Times, Northern Data, supported by Tether, has sold its bitcoin mining business to Peak Mining, a company operated by Tether executives. The buyers—Highland Group Mining Inc., Appalachian Energy LLC, and 2750418 Alberta ULC—are directly linked to Tether's leadership. Records from the British Virgin Islands show that Highland Group Mining is controlled by Tether co-founder and chairman Giancarlo Devasini and the company's CEO Paolo Ardoino. Canadian documents indicate that Devasini is the sole director of Alberta ULC. The equity structure of Appalachian Energy LLC, registered in Delaware, remains opaque, with no publicly listed directors.