Tether purchases $420 million worth of Nvidia chips and plans to lease them to AI startups

ChainCatcher news, according to Forbes, Tether has purchased 10,000 Nvidia H100 GPUs for $420 million, which will secure a 20% stake in the Bitcoin miner Northern Data, and plans to lease these chips to AI startups.

It is reported that Nvidia's H100 is one of the most sought-after commodities in the IT industry, with each chip priced at $40,000. Data processing companies also prefer to use these GPUs as their main processors; therefore, there is a high demand for them from AI startups.

Northern Data CEO Aroosh Thillainathan stated that this deal could make Northern Data the largest cloud GPU operator in Europe, aside from major cloud computing giants like Amazon, Microsoft Azure, and Oracle.