Posted 11/2/2023, 9:25:38 AM
Tether Provides $610M in Debt Financing to Bitcoin Miner Northern Data for AI and Mining Expansion
- Tether issues $610M debt financing to Bitcoin miner Northern Data
- Debt aims to enable Northern Data to invest in AI cloud services, data centers, and scaling Bitcoin mining
- Tether acquired stake in Northern Data in September to back AI initiatives
- Tether has been moving into Bitcoin mining in 2023, launching own operations
- Tether increased excess reserves to $3.3B in Q2, but stablecoin loans also surged
