Tether-backed Northern Data sold mining firm to Tether execs: FT

Northern Data, which is majority-owned by Tether, recently sold its Bitcoin mining arm to companies controlled by Tether executives. This transaction indicates a restructuring within Tether-affiliated businesses and may further extend Tether's influence in the market. Tether plays a crucial role in the cryptocurrency landscape, being a stablecoin with significant trust among traders and investors alike. The sale of Northern Data enhances Tether's resource allocation strategy and strengthens its competitive position in the Bitcoin mining sector. With increasing regulatory scrutiny in North America and globally, it will be interesting to observe how Tether and its associated firms navigate this evolving environment.