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

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Cointime2023/11/02 04:48

By:Cointime

Europe's largest bitcoin mining company, Northern Data, has announced that it has obtained a debt financing of 575 million euros from Tether. The financing is unsecured under standard market conditions and is due on January 1, 2030. This will enable Northern Data to make further investments in its three major business lines: Taiga Cloud, Ardent Data Centers, and Peak Mining. The focus of the investment will be on purchasing more advanced hardware, enabling Northern Data Group's Taiga Cloud business to further expand its product as a European provider of artificial intelligence cloud services. The new financing will also be used to expand its data center investment portfolio through its data center infrastructure business, Ardent Data Centers, and enhance its existing business. Finally, the company plans to further expand its bitcoin mining business through its mining business, Peak Mining, using dedicated liquid cooling mining technology.

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