The raid on Northern Data AG's offices last week was part of a criminal investigation into whether the company illegally claimed about 500 million euros (about $586 million) in tax deductions for high-performance computing chips, according to people familiar with the matter.
European prosecutors are examining Northern Data's purchase of graphics processing units (GPUs) for a project in northern Sweden, according to people familiar with the matter. They are investigating whether Northern Data, backed by stablecoin distribution company Tether Holdings SA, received tax breaks by claiming the chips were used for artificial intelligence when in fact they were used for cryptocurrency mining.
European Union prosecutors investigate Northern Data 500 million Euro GPU purchases
2025-10-01 17:08:51
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