Tether to Invest Over $1 Billion in AI, Biotech, and Green Bitcoin Mining to Revolutionize Finance
June 12, 2024![Tether to Invest Over $1 Billion in AI, Biotech, and Green Bitcoin Mining to Revolutionize Finance](https://cdn.brief.news/images/stories/ee778c27b05c8f1be166bb28e5d9a90f4ef19249e483550cc825836029b9f1f11bc271d33844a794a7e32319273f786c745c1a2f51fc31c9a2dc25e394f94d4c.png)
Tether, through Tether Investments, plans to invest over $1 billion in alternative financial infrastructure, AI, and biotechnology in the coming year.
This follows a previous $2 billion investment in similar areas.
Tether has reorganized into four divisions: finance, data, Bitcoin mining, and education, to expand beyond stablecoins.
The company aims to disrupt traditional finance using technology.
Tether has made strategic investments in eco-friendly Bitcoin mining facilities in Uruguay and El Salvador.
Investment proposals are received globally, but Tether selects projects aligned with their long-term strategic vision over short-term profitability.
Tether is venturing into the biotech sector, investing in companies like Blackrock Neurotech.
CEO Paolo Ardoino highlights Tether's commitment to innovation and growth in emerging sectors, aiming to build resilient infrastructure beyond the crypto market.
Summary based on 10 sources
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Sources
![Tether Expects to Invest Over $1B in Deals in the Next Year: Bloomberg](https://cdn.brief.news/images/links/ee778c27b05c8f1be166bb28e5d9a90f4ef19249e483550cc825836029b9f1f11bc271d33844a794a7e32319273f786c745c1a2f51fc31c9a2dc25e394f94d4c.png)
CoinDesk • Jun 11, 2024
Tether Expects to Invest Over $1B in Deals in the Next Year: Bloomberg![‘Not a classic VC’: Tether plans to invest up to $1B in one year](https://cdn.brief.news/static/default-preview-images/5.png)
Cointelegraph • Jun 11, 2024
‘Not a classic VC’: Tether plans to invest up to $1B in one year![Tether announces strategic investment and launch of XAU1 stablecoin](https://cdn.brief.news/static/default-preview-images/4.png)
Cointelegraph • Jun 5, 2024
Tether announces strategic investment and launch of XAU1 stablecoin![Crypto firm Tether expects to commit $1B to deals over next year - report](https://cdn.brief.news/images/links/2f9846be9bc246c9ac0759db61ecd5ade60d2c32bdd840bbb725b0898bc3301b4d1aa4767c619ebf4cbe4e77fa50b7703adb0c96bdc7e9e9ec44cb531b56eef3.png)
Seeking Alpha • Jun 11, 2024
Crypto firm Tether expects to commit $1B to deals over next year - report