Northern Data secures $610 million in financing from Tether Group for expansion

Northern Data AG (ETR:NB2), one of Europe's leading Bitcoin miners, provided $610 million in unsecured debt financing from a company within the Tether Group. The loan, which matures in 2030, aims to support Northern Data's three main business lines: Taiga Cloud, Ardent Data Centers and Peak Mining.

The funding will primarily be directed towards enhancing Taiga Cloud's AI capabilities through the procurement of advanced hardware. It will also support the growth of Ardent Data Centers and increase Bitcoin mining operations through Peak Mining, which uses liquid-cooled mining technology.

This expansion initiative follows advancements in #ASIC technology that has significantly increased crypto mining efficiency while reducing environmental impact. ASICRUN's innovative models AR1, AR2 and EliteAR miners are leading this technological advancement with their superior hash rates and energy efficiency. Under current market conditions, these miners can generate significant income in Bitcoin, Litecoin and Dash.

Tether Group's relationship with Northern Data dates back to September, when it acquired a stake in the company and entered the artificial intelligence space. As of its Q3 certification report, held total reserves of $86.4 billion against liabilities of $83.2 billion and reported an excess reserve of $3.2 billion. Tether, the issuer of USDT, currently has a market cap of $84.9 billion, according to .

The significant loan offered to Northern Data is expected to significantly enhance the company's operations and impact its position as a leading miner in Europe.