Tether Announces Strategic Investment Into European AI Firm

📆 21/09/2023 19:36:00
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Tether now owns a major stake in Northern Data and has bought 10,000 cloud computing machines to support the company.

Stablecoin giant Tether has announced a strategic investment in German-listed Bitcoin miner Northern Data Group , which the former says will be “the biggest independent AI Player in Europe.”

“We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers,” said Paolo Ardoino, Tether’s Chief Technology Officer, in a statement. “This investment underscores our commitment to responsible growth and innovation while preserving the strength and integrity of Tether tokens’s reserves.”

Tether referenced no exact figure for its GPU purchase, but did state that it’s investment in Northern Data was made “through Damoon. “contained inaccuracies regarding Tether’s stake size in this investment,” the company added.

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