share_log

Tether Group Inks Deal With Nvidia, Acquires 10K GPUs Plus 20% Stake In Northern Data

Benzinga ·  09/21/2023 22:37

Tether Group, the issuer of stablecoin Tether (CRYPTO: USDT), is buying thousands of Nvidia (NASDAQ:NVDA) H100 GPUs for $420 million. The deal includes a 20% stake in German-listed bitcoin miner Northern Data, which intends to rent the chips to artificial intelligence (AI) startups. Tether will acquire 10,000 GPUs through an Irish shell company, Damoon. Also Read: Tether To Unleash $1B Liquidity Flood On Tron Network For Imminent Issuance Demands Northern Data, meanwhile, will acquire a 70% ownership stake in exchange for shares equal to 20% of its ownership. The company also has the option to acquire the remaining shell company, however, no deal has yet

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment