Tether Invests $420 million in German Bitcoin Miners
Tether Group invests $420 million in German Bitcoin miner, Northern Data, getting a stake and 10,000 high-speed GPUs.
In a surprising step, Tether Group, known for its $86.5 billion cryptocurrency, invested in Northern Data Group, a Bitcoin mining company from Germany.
This $420 million deal got Tether 10,000 H100 GPUs and a 20% share in Northern Data.
The H100 GPU by Nvidia is popular in tech. It costs $40,000 and is loved for its fast data handling. Northern Data will offer these chips to young AI companies.
Paolo Ardoino, Tether's tech leader, said:
“We're excited about our move into new technology with Northern Data. We're serious about growing in smart, strong ways."
The exact amount Tether invested wasn't officially shared. A report from Forbes mentioned the $420 million, but Tether only confirmed they didn't own 20% of Northern Data.
