Tether made a strategic investment in Northern Data Group, a high-performance computing (HPC) infrastructure provider, through its Damoon company. Tether will work with Northern Data Group on several initiatives aimed at leveraging artificial intelligence, peer-to-peer communication, and hyper-resilient data storage solutions to develop accessible solutions that serve communities already using other Tether products.

PANews reported on September 22 that Tether stated in its official blog that regarding Tether’s Damoon strategic investment in Northern Data, Forbes reported that there was misinformation about the size of Tether’s stake in this investment. But Tether did not disclose the correct data. Tether also added that it is important to note that these investments are separate from Tether’s reserves disclosed in the Comprehensive Reserve Report (CRR), ensuring that they do not affect Tether’s reserves or customer funds. Prior to yesterday’s news, Tether acquired 20% of Northern Data by spending US$420 million to purchase 10,000 Nvidia H100 GPUs.