Tether, the entity behind the widely used stablecoin Tether (USDT), has recently made an undisclosed investment in Germany-based cryptocurrency miner Northern Data Group. This strategic move aligns with Tether’s commitment to advancing emerging technologies, particularly in the realm of artificial intelligence (AI), as per their announcement on September 21.
The investment into Northern Data was facilitated through Tether’s subsidiary company, Damoon. While Tether refuted claims made in a Forbes report suggesting a massive $420-million investment, the company refrained from disclosing the precise sum when contacted for clarification. Our attempts to obtain a response from Northern Data were unsuccessful as of the time of this publication.
Tether’s investment signals a burgeoning interest in AI-related endeavors, in addition to potential collaborations encompassing peer-to-peer communications and data storage solutions. As the cryptocurrency industry continues to evolve, partnerships like these underscore the growing interplay between digital currencies and cutting-edge technologies, setting the stage for innovative developments on the horizon.
