eziomo

If you invested in Northern Data @NorthernDataGrp, I want to hear your story. My DMs are open. Last fall I described how @Tether allegedly uses undisclosed related-party sales to move assets at a discount. Public filings by Rumble show that Northern Data (majority-owned by Tether) sold its mining assets to newly formed, obscurely named companies with documented connections to Tether insiders, at what an external report described as a “disappointing” price. That followed our report that the same Northern Data AG (ETR:NB2) mining assets were previously tied to a similar proposed buyer structure involving a company called Elektron Energy LP, as detailed here: x.com/CorySwan/statu… Previously, Swan filed a U.S. §1782 action seeking third-party documents about how a supposedly “independent” valuation was used to justify a related-party asset sale to Tether from the Tether–Swan mining joint venture. x.com/CorySwan/statu… Northern Data appears to be the public-company version of the same pattern: a majority-Tether-owned company sells a valuable mining business at what an external report calls an “inexpensive” and “disappointing” price, while the buyer entities appear to be governed by Tether insiders, without clear disclosure of those related-party relationships in deal documents. (On a related note, is BaFin, the German financial regulator, asleep at the switch here? You’d think they’d be interested, as they already got burned by Wirecard, which involved some of the same players.) Here’s what the record shows: Tether is the majority shareholder of Northern Data @NorthernDataGrp, which recently sold its Bitcoin mining subsidiary, Peak Mining. Northern Data itself commissioned an Edison Group report that described the transaction price as “inexpensive,” “disappointing,” and “valued at roughly 50% compared to precedent transactions.” edisongroup.com/research/sale-… Edison’s report also states that the sale “smooth[es] the path for a potential bidder to acquire Northern Data’s remaining HPC facilities.” @RumbleVideo $RUM, where Tether is already the largest shareholder, filed a 13D disclosure indicating it would be acquiring what remains of Northern Data, paving the path for Tether to potentially have majority ownership of Rumble subject to conversion. sec.gov/Archives/edgar… Rumble’s deal materials identify the buyer structure for Northern Data’s assets as “Highland Group Mining Inc., a British Virgin Islands business company (‘Buyer Parent’), Appalachian Energy LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of Buyer Parent (‘Merger Sub’), [and] 2750418 Alberta ULC, an Alberta unlimited liability corporation.” The deal disclosures indicate the support of Apeiron Investment Group, a Christian Angermayer company. sec.gov/Archives/edgar… THE SHELL GAME What those materials do not appear to disclose is that the director of 2750418 Alberta ULC is Giancarlo Devasini, Tether’s director and controlling shareholder, and the directors of Highland Group Mining Inc. also appear to be Giancarlo Devasini (who unilaterally controls Tether) and @PaoloArdoino, Tether’s CEO. Assuming those relationships are accurately reflected in the corporate records of the relevant entities, then the substance of the deal is straightforward: Northern Data, majority-owned by Tether, sold Peak Mining to entities seemingly directed by Tether insiders at a price its own commissioned research describes as a steep discount versus precedent transactions. A final connective thread: sources close to the matter indicate discussions may have occurred regarding a potential investment into the Northern Data assets acquired at a discount in partnership with Raphael Zagury @alphazeta, now Elektron Energy’s CEO. Zagury appeared in connection with the coordinated “rain and hellfire” raid of Swan’s mining business in 2024. Taken together, the public record raises significant questions about disclosure, governance, and valuation in related-party transactions involving Tether-affiliated entities. Again, if you were an investor in Northern Data, I'd love to hear about it. DMs are open.

🚨TODAY IS TAX DAY: And the ONLY party who wants to lower YOUR taxes are the Democrats: Senator Mark Kelly unveils a plan to ELIMINATE federal income tax for Americans earning under $46,000 - and slash taxes up to $161,000. Trump’s donors don’t want you to see this: It’s fully paid for by people making over $1 million a year. Not working families.
Not the middle class. The millionaires and billionaires sitting on more wealth than they could ever spend. Kelly laid it out to CTA Media Network’s Joe Gallina: "billionaires…have more money than they… can spend in multiple lifetimes while we have people (who) can't afford a place to live and can't send their kids to college and never go on vacation. It’s just not right.” This isn’t a tweak. This game-changing bill takes a sledgehammer to a broken system - and forces a reckoning with the affordability crisis Donald Trump made worse. #TrumpRiggedYourTaxReturn