Tether plans to spend $420 million to purchase 10,000 H100 GPUs and acquire a 20% stake in Bitcoin mining company Northern Data

Odaily Planet Daily News Tether purchased 10,000 Nvidia H100 GPUs for US$420 million, acquiring a 20% stake in the Bitcoin mining company Northern Data through this transaction. Northern Data plans to lease the chips to artificial intelligence startups. Northern Data CEO Aroosh Thillainathan said the deal has the potential to make Northern Data the largest cloud GPU operator in Europe after major cloud computing giants such as Amazon, Microsoft Azure and Oracle. It is reported that the complex transaction will see Tether purchase GPUs through Irish shell company Damoon, and Northern Data will obtain 70% of the company in exchange for shares equivalent to its 20% ownership. Northern Data, whose shares have a market value of $570 million, has the right to acquire the remaining shares of Damoon, but the total cost is unclear. The deal has not yet been completed. (Forbes)