Tether, the stablecoin issuer, has announced an investment in Northern Data Group through its subsidiary Damoon, stating that it is expanding its business beyond fintech into energy, bitcoin mining, and communication technology.
Northern Data has also announced that Damoon has closed a deal to purchase over 10,000 NVIDIA H100 GPUs, valued at over 400 million euros, which will be delivered by the fourth quarter of 2023 and used for the Taiga Cloud AI service.
Prior to this, Tether had expanded its investments in other ventures, including bitcoin mining in South America and payment services in Georgia. Tether confirms that these investments are not utilizing the separate reserves of USDT.
TLDR: Tether invests in Northern Data Group through Damoon, expanding into energy, bitcoin mining, and communication technology. Damoon purchases over 10,000 NVIDIA H100 GPUs for Taiga Cloud AI service. Tether’s previous investments include bitcoin mining and payment services.