Northern Data Secures €575 Million Loan From Tether for Expansion

According to Foresight News, Bitcoin miner Northern Data has signed a loan agreement with Tether, securing a debt financing limit of €575 million. The financing is provided under standard market conditions and is valid until January 1, 2030. This will enable Northern Data to make further investments in its three major business areas: Taiga Cloud, Ardent Data Centers, and Peak Mining.The focus of these investments will be to acquire more cash hardware, allowing Northern Data's Taiga Cloud business to further expand its generative artificial intelligence cloud service offerings in Europe. The new funds are also intended to be used to expand Northern Data's data center investment portfolio through Tether's data center infrastructure business, Ardent Data Centers, and strengthen existing operations. Finally, Tether plans to use the financing to further expand its Bitcoin mining business and adopt specially designed liquid-cooled mining technology. Foresight News previously reported that Tether purchased 10,000 Nvidia H100 GPUs for $420 million, which will give Bitcoin miner Northern Data a 20% stake and plans to lease these chips to artificial intelligence startups.