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Authorities Probe Northern Data for €100M Tax Fraud

9/29/2025

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Summary

Story summary

Authorities are investigating Northern Data for Bitcoin mining tax violations at Boden data center in Sweden.
German and Swedish police conducted raids amid allegations of value-added tax (VAT) fraud exceeding €100 million.
Northern Data is majority-owned by Tether and shifting from cryptocurrency to AI computing, attracting scrutiny.
Shares fell about 12% after the raids, then rebounded as investors seek transparency.

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Story summary

Authorities are investigating Northern Data for Bitcoin mining tax violations at Boden data center in Sweden.
German and Swedish police conducted raids amid allegations of value-added tax (VAT) fraud exceeding €100 million.
Northern Data is majority-owned by Tether and shifting from cryptocurrency to AI computing, attracting scrutiny.
Shares fell about 12% after the raids, then rebounded as investors seek transparency.