Tether Spent $420M to Purchase Advanced AI Chip For a Mining Firm's Equity Stake

Tether Spent $420M to Purchase Advanced AI Chip For a Mining Firm's Equity Stake
Source: Tether

Reported Forbes, Tether is entering a $420 million deal involving artificial intelligence chips and Bitcoin mining firm Northern Data.

That report indicates that Tether has spent $420 million in acquiring 10,000 Nvidia H100 GPUs, roughly constituting 2% of Nvidia's total shipments of 550,000 GPUs for the year. H100 is the world's most advanced chip ever built. It features major advances to accelerate AI, HPC, memory bandwidth, interconnect and communication at data center scale.

This purchase was made on behalf of Northern Data, a German cryptocurrency mining company looking to provide cloud access to these specialized chips for AI startups. In return, Tether will secure a 20% stake in Northern Data.

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Source

Tether

AI

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