According to Foresight News, Tether has reportedly purchased 10,000 Nvidia H100 GPUs for $420 million, acquiring a 20% stake in Bitcoin miner Northern Data. The company plans to rent out these chips to artificial intelligence (AI) startups.

The Nvidia H100 is one of the most popular products in the IT industry, with each chip priced at $40,000. Data processing companies also prefer to use these GPUs as their primary processors, resulting in high demand from AI startups. Northern Data CEO Aroosh Thillainathan stated that this deal could potentially make Northern Data the largest cloud GPU operator in Europe, aside from major cloud computing giants such as Amazon, Microsoft Azure, and Oracle.