Tether made an important move in the cryptocurrency world today. Accordingly, the Bitcoin miner and artificial intelligence innovator invested $427 million in Northern Data. When you look at the size of the investment, it really attracts attention. Let’s look at the details together.
Tether makes strategic investment in Northern Data
Tether (USDT), the world’s leading stablecoin issuer, has taken an important step. Accordingly, it injected $427 million into Germany-based Northern Data Group (NB2), known for its involvement in Bitcoin mining and cloud data services. Accordingly, he started a strategic investment journey. This partnership was facilitated through Tether’s subsidiary Damoon, which organized the collaboration.
A closer look at the investment reveals very important data. Accordingly, Tether USDT’s significant investment includes the purchase of 10,000 Nvidia H100 processors worth $ 427 million. Additionally, as part of this transaction, Tether acquired a 20% stake in Northern Data Group. On the other hand, it added a strategic asset to its balance sheet.
Innovative distribution of processors
These purchased processors will be used through Northern Data’s cutting-edge cloud service, Taiga Cloud. Customers will have access to these advanced resources starting in the fourth quarter of 2023. This strategic move is preparing to herald groundbreaking developments in the fields of artificial intelligence, communication and cloud data storage. The plan to rent these processors to leading artificial intelligence startups is particularly striking. On the other hand, Tether USDT’s commitment to technological developments is also revealed.
In its official statement, Tether stated that this investment is an important step in embracing emerging technologies. It aligns with Tether’s commitment to supporting technological innovations, including blockchain, Generative AI, and scientific research. Partnership not only expresses a commitment to innovation. It also emphasizes responsible financial management by protecting the interests of its user base. Together, Tether and Northern Data aim to develop accessible solutions that benefit global communities.
Northern Data’s expansion
Northern Data Group previously acquired 70% shares of Damoon Designated Activity in August. This strategic move by Tether adds to its list of investments, which includes ventures into Bitcoin mining operations in South America and participation in a cryptocurrency payment firm in Georgia. The world is constantly developing in the field of technology and innovation. When we look at Kriptokoin.com, Tether’s partnership with Northern Data draws attention. It also reflects its commitment to being at the forefront of transformative developments in the industry.
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