Stablecoin

Bitcoin

Northern

Notable

Taiga

<p class="p1" style="text-align: justify">Stablecoin issuer <a href="https://en.coin-turk.com/tether-gold-now-accepted-as-payment-on-uquid/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a> has caught attention by providing significant debt financing to Germany-based <a href="https://en.coin-turk.com/a-promising-outlook-for-bitcoin-recent-developments-and-analysis/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> mining company Northern Data AG. This move comes after Tether officials stated that they would step back from their lending initiative. However, with this move, Tether has once again showcased its commitment to Bitcoin mining.</p>
<h2 class="p1" style="text-align: justify" id="investment-move-by-stablecoin-issuer-tether">Investment Move by Stablecoin Issuer Tether</h2>
<p class="p1" style="text-align: justify">According to an announcement made by Northern Data AG on November 2, Tether, the stablecoin issuer, has provided a debt financing of 575 million euros (610 million dollars) to the company for further investments.</p>
<p class="p1" style="text-align: justify">With this agreement, the debt capital aims to enable investments in three business divisions, including the artificial intelligence cloud service provider Taiga Cloud, Ardent Data Centers, and the company’s mining operation called Peak Mining.</p>
<p class="p1" style="text-align: justify">The focus of the planned investment program, as stated in the announcement, will be scaling Bitcoin mining operations through the purchase of additional hardware and liquid-cooled mining <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">technology</a>. This development adds another branch to Tether’s investment portfolio.</p>
<p><img decoding="async" class="aligncenter wp-image-248988 size-full" src="https://coin-turk.com/wp-content/uploads/2023/08/Tether-.png" alt="" width="1462" height="678"></p>
<h2 class="p1" style="text-align: justify" id="notable-points-from-the-announcement">Notable Points from the Announcement</h2>
<p class="p1" style="text-align: justify">According to the details provided in the announcement, the debt facility was provided without collateral and has a term until January 1, 2030, based on standard market conditions. This debt financing follows Tether’s acquisition of shares in Northern Data.</p>
<p class="p1" style="text-align: justify">In September 2023, the USDT issuer made an undisclosed investment in Northern Data with the aim of supporting artificial intelligence initiatives. Tether has stated that this investment is separate from its reserves and will not affect customer funds. The company officials continue to actively engage in Bitcoin mining operations by launching their own mining operations and introducing proprietary mining software in 2023.</p>
<p class="p1" style="text-align: justify">According to the second-quarter attestation by Tether’s accounting firm BDO, the stablecoin company increased its excess reserves by 850 million dollars, bringing the total excess reserves to 3.3 billion dollars. Despite the company’s efforts to eliminate such loans to zero last year, it was also announced that stablecoin loans have increased in September 2023.</p> Continue Reading: <a href="https://en.coin-turk.com/tether-provides-significant-debt-financing-to-bitcoin-mining-company-northern-data-ag/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/tether-provides-significant-debt-financing-to-bitcoin-mining-company-northern-data-ag/</a>

Tether, Provides Significant Debt Financing to Bitcoin Mining Company Northern Data AG

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