$568 million of GPUs allegedly misused for crypto mining caught in tax evasion and money laundering probe — EU claims 10,000 Nvidia H100 units acquired by Northern Data may not have been used for AI

October 3, 2025

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European authorities are investigating Northern Data AG over allegations of tax incentive fraud related to the purchase of $568 million worth of high-performance GPUs, according to Bloomberg. The criminal investigation aims to determine whether the company misrepresented its GPU usage and utilized the data center for cryptocurrency mining rather than performing AI-related computing. However, while it makes sense to procure 10,000 H100 GPUs at a discount, it does not make sense to use them for mining.

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