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Tether invests $420M in German miner, Northern Data



Tether, the most well-known stablecoin issuer, has made a significant investment in Northern Data, a German bitcoin miner, in a move that could have an effect on the landscape of cloud GPU operations. 

Tether’s move involves purchasing over $420 million worth of Nvidia’s state-of-the-art H100 GPUs (Graphics Processing Units), a major player in the artificial intelligence (AI) chip industry.

With this substantial investment, Tether has acquired a 20% stake in Northern Data, which has taken a giant leap forward in the areas of artificial intelligence and high-performance computing with the purchase of 10,000 H100 GPUs.

What makes this deal special is that Northern Data plans to rent out these GPUs to artificial intelligence startups, effectively turning it into a major cloud GPU operator. The Nvidia-made GPUs, renowned for their exceptional artificial intelligence capabilities, will drive a wide variety of applications, from machine learning to data analysis, in a variety of sectors.

By making this smart investment and purchasing cutting-edge GPUs, Northern Data will be able to compete with the likes of Amazon Web Services, Microsoft Azure, and Oracle in the booming European cloud GPU market. The significance of high-performance computing and artificial intelligence capabilities in the modern digital landscape is highlighted by this bold move.

The partnership between Tether and Northern Data has the potential to make a significant impact on both parties as the demand for high-performance computing and artificial intelligence accelerates across industries. This development is indicative of the growing convergence of blockchain and AI technologies.


Read also: UK House of Lords Approves Legislation to Target Illicit Cryptocurrency Usage

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