Mining company Northern Data received 575 million euros in debt financing from Tether to invest in three major business lines including Bitcoin mining

Odaily News Northern Data, Europes largest Bitcoin mining company, announced that it has obtained 575 million euros in debt financing from Tether. This financing is unsecured under standard market conditions and has a term until January 1, 2030. This will enable Northern Data to make further investments in its three business lines Taiga Cloud, Ardent Data Centers and Peak Mining. The investment will focus on purchasing more advanced hardware to enable Northern Data Groups Taiga Cloud business to further expand its offering as a European provider of generative artificial intelligence cloud services. The new financing will also be used to expand its data center portfolio through the companys data center infrastructure business, Ardent Data Centers, and enhance existing operations. Finally, the company intends to further expand its Bitcoin mining operations through its mining operation Peak Mining, utilizing specialized liquid-cooled mining technology. (EQS News)