Tether acquires stake in Bitcoin miner Northern Data, hinting at AI collaboration
Cointelegraph
Published Sep 21, 2023 02:00PM ET
Updated Sep 22, 2023 05:00PM ET
The firm behind stablecoin Tether (USDT) has invested an undisclosed amount into German-based crypto miner Northern Data Group in a move backing artificial intelligence (AI) initiatives.
In a Sept. 21 blog post, Tether said the strategic investment into Northern Data through Tether group company Damoon was intended to demonstrate “its determination to support emerging technology,” hinting at collaborations involving AI, peer-to-peer communications and data storage solutions. The company denied a report from Forbes regarding a $420-million investment but did not specify the exact amount when reached for comment. Cointelegraph also reached out to Northern Data but did not receive a response at the time of publication.
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Written By: Cointelegraph
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