Tether Expands Beyond Stablecoins, Invests in AI Through Partnership with Northern Data Group

Tether invests in artificial intelligence through subsidiary's partnership with Northern Data Group
Subsidiary Damoon buys 400 million euros worth of Nvidia GPUs for cloud computing
Chips to be used in Northern Data's Taiga Cloud service starting in Q4
Latest example of Tether expanding beyond stablecoin business
Tether says investment does not impact reserves backing its stablecoins

coindesk.com

Relevant topic timeline:

9/20/2023

Tether Spends $420M on GPUs for Controversial Bitcoin Miner Pivoting to AI Cloud Services

Stablecoin Tether has invested $420 million in German bitcoin miner Northern Data to gain a 20% stake and access to 10,000 Nvidia H100 GPUs, aiming to become a major cloud GPU player in the AI industry.

9/21/2023

Tether Loans Rise in 2023 Despite Previous Pledge to End Controversial Program

Despite announcing its plans to eliminate secured loans, Tether, the largest stablecoin issuer, has experienced a rise in such loans in 2023, with $5.5 billion of loans in its recent quarterly report, although it aims to reduce this to zero by 2024.

9/21/2023

Tether Invests in Bitcoin Miner Northern Data, Hints at AI Collaboration

Tether, the firm behind stablecoin USDT, has made a strategic investment in crypto miner Northern Data Group in support of artificial intelligence initiatives and potential collaborations involving AI, P2P communications, and data storage solutions.

10/11/2023

AI Boom Fuels Data Center and Cloud Demand, Benefitting Nvidia and Others

Nvidia has established itself as the main beneficiary of the artificial intelligence gold rush, but other companies involved in data-center infrastructure and cloud services are also expected to benefit.

10/16/2023

Tether Freezes Nearly $1M in Crypto Linked to Terrorism in Israel and Ukraine

Stablecoin issuer Tether has frozen funds in 32 cryptocurrency addresses linked to terrorism and warfare in Israel and Ukraine, working with Israel's National Bureau for Counter Terror Financing (NBCTF) in an effort to counter cryptocurrency-funded terrorism and warfare.

10/20/2023

Tether Agrees to Increased Transparency and CFTC Fine for Past Reserves Issues

Stablecoin issuer Tether plans to publish real-time data on the reserves backing its largest dollar-pegged stablecoin, USDT, by 2024, according to a Bloomberg report.

10/20/2023

Tether to Launch Real-Time Reserve Reporting in 2024, Sees Profit and Lending Growth Despite Crypto Slump

Tether, the world's largest stablecoin issuer, plans to start publishing reserve data in real-time by 2024, according to the company's chief technical officer and incoming CEO Paolo Ardoino.

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Posted 9/21/2023, 3:09:00 PM

Tether Expands Beyond Stablecoins, Invests in AI Through Partnership with Northern Data Group

Tether invests in artificial intelligence through subsidiary's partnership with Northern Data Group
Subsidiary Damoon buys 400 million euros worth of Nvidia GPUs for cloud computing
Chips to be used in Northern Data's Taiga Cloud service starting in Q4
Latest example of Tether expanding beyond stablecoin business
Tether says investment does not impact reserves backing its stablecoins

coindesk.com

Relevant topic timeline:

9/20/2023

Tether Spends $420M on GPUs for Controversial Bitcoin Miner Pivoting to AI Cloud Services

9/21/2023

Tether Loans Rise in 2023 Despite Previous Pledge to End Controversial Program

9/21/2023

Tether Invests in Bitcoin Miner Northern Data, Hints at AI Collaboration

10/11/2023

AI Boom Fuels Data Center and Cloud Demand, Benefitting Nvidia and Others

10/16/2023

Tether Freezes Nearly $1M in Crypto Linked to Terrorism in Israel and Ukraine

10/20/2023

Tether Agrees to Increased Transparency and CFTC Fine for Past Reserves Issues

Stablecoin issuer Tether plans to publish real-time data on the reserves backing its largest dollar-pegged stablecoin, USDT, by 2024, according to a Bloomberg report.

10/20/2023

Tether to Launch Real-Time Reserve Reporting in 2024, Sees Profit and Lending Growth Despite Crypto Slump

Tether, the world's largest stablecoin issuer, plans to start publishing reserve data in real-time by 2024, according to the company's chief technical officer and incoming CEO Paolo Ardoino.