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Popular altcoin issuer is entering the artificial intelligence space
Tether, a stablecoin issuer, has invested in German-based crypto miner Northern Data Group. This strategic investment points to potential collaborations in the field of artificial intelligence (AI). Tether made this investment through its group company Damoon. However, Tether did not disclose the amount of capital allocated for this partnership.
According to Forbes, this investment is worth 420 million. The altcoin issuing company neither confirmed nor denied the exact figure. Moreover, previous talks between Tether and Northern Data in July revealed that the stablecoin giant had ambitions of supporting Damoon, a Tether group company, before completing the acquisition. By doing this, Damoon aimed to supply the latest GPU hardware. Paolo Ardoino, Tether's CTO, described the initiative as a dive into the new technology industry.
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