The World’s Largest Stablecoin Tether Invests in Bitcoin Miner Northern Data
Tether, the world’s largest stablecoin, has reportedly invested $420 million in Bitcoin miner Northern Data, according to Forbes. However, Tether issued a press release the following day stating that there were inaccuracies in the report regarding the size of the investment.
A Collaboration Focused on AI and Data Solutions
Tether’s press release revealed that their collaboration with Frankfurt-based company Northern Data Group will primarily focus on initiatives related to artificial intelligence (AI), peer-to-peer communications, and data storage solutions. However, specific details about the collaboration were not disclosed.
On the other hand, Forbes reported that Tether was taking a 20% stake in Northern Data, who plans to rent their 10,000 H100 GPUs to AI startups. This move could potentially make Northern Data the largest operator in Europe outside of cloud computing giants like Amazon, Microsoft, and Oracle.
Tether Continues to Venture into New Technological Frontiers
In a comment included in the press release, Tether Group’s Chief Technology Officer Paolo Ardoino expressed excitement about the investment in Northern Data Group, highlighting its potential as a fresh venture into new technological frontiers.
This investment follows Tether’s recent launch of its Bitcoin mining platform called Moria. The platform is currently in its testing phase and offers an initial batch of containers and miners with extended control over power distribution unit (PDU) management and miner interaction.
Hot Take: Tether Expands Its Horizons with Strategic Investments
Tether’s investment in Bitcoin miner Northern Data demonstrates its commitment to expanding its presence in the crypto industry. By collaborating with companies like Northern Data and launching innovative platforms like Moria, Tether is positioning itself as a key player in new technological frontiers, particularly in the areas of AI and data solutions.
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