Stablecoin giant Tether has announced a strategic investment in German-listed Bitcoin miner Northern Data Group (ETR: NB2), which the former says will be “the biggest independent AI Player in Europe.”
The investment follows previous attempts from Tether to expand beyond fintech, and continues a growing trend of crypto firms diversifying into artificial intelligence.
Tether’s Big AI Play
Per Tether’s statement on Thursday, the company said that Northern Data’s commitment to “resilient data storage and high-performance computing” aligns with the stablecoin issuer’s “forward-looking” goals. Its initiatives with the firm will leverage several technologies including AI, and peer-to-peer communication, among other things.
“We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers,” said Paolo Ardoino, Tether’s Chief Technology Officer, in a statement. “This investment underscores our commitment
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