In recent years, there has been a continuous acceleration in the development of new technologies such as fintech, IoT, Big Data, AI, and other related fields. Much of this is due to investment from major companies, like the SBI Group, based out of Japan, which have been proactively investing in venture companies within these fields for years.
Today, according to a press release, SBI Crypto, a wholly-owned subsidiary of the SBI Group, has announced a partnership with Northern Data AG and Whinstone US Inc, which will see SBI Crypto hosted at Whinstone’s new data center in Texas.
Dedicated to the development of crypto mining-related technologies and operations, the move is a big win for both parties involved, and the blockchain industry as a whole.
According to Aroosh Thillainathan, Northern Data’s CEO, “We are very pleased to have SBI as a great partner and one of the leading international financial and technology holding companies by our side.”
Another United Front For The Crypto Industry
Since 2016, SBI Group has been one of the world’s leading online financial service providers. It has been continuously working to build out its Fintech 2.0 ecosystem through the acquisition and development of financial businesses and technologies.
In addition to the partnership, both Northern Data and SBI have identified a few other critical areas of strategic development, which will be beneficial for both parties. This includes projects related to the development of new blockchain technologies, as well as joint software development and deployment across the industry.
Furthermore, SBI Crypto has also positioned itself for potential equity participation in Northern Data AG, which is big news for the company. “With its activities to date, SBI Holdings has impressively demonstrated its leadership in the emerging crypto and blockchain industry. This partnership gives us the potential to grow even faster by joining forces.”, said Northern Data’s CEO.
The World’s Largest Bitcoin Mining Facility
Operating at a global scale, Northern Data AG was formed through the merger of the American company, Whinstone US Inc. and German crypto-mining giant, Northern Bitcoin AG. The company, based in Germany, focuses on the development of blockchain technologies and cryptocurrency mining applications.
Today, Whinstone is currently in the process of building the United States’ largest data center, which will also be the world’s largest Bitcoin mining facility. However, the new data center wasn’t solely designed for the development of blockchain technologies.
Instead, it will also be used for the development of several other major industries such as online gaming, streaming services, AI, and even self-driving vehicles. And in the end, it’s partnerships like this that continue to push the boundaries of technology, making blockchain technology safer and more accessible than ever before.