Northern Data and SBI Crypto Announce Strategic Cooperation
FRANKFURT and TOKYO, Feb. 13, 2020 -- Northern Data AG and Whinstone US Inc., announce a strategic cooperative relationship with SBI Crypto Co., Ltd., a wholly owned subsidiary of SBI Holdings Inc. (Tokyo: 8473) in the areas of applied blockchain technology.
SBI Crypto will be one of the first enterprises hosted at Whinstone US' new data center in Texas being delivered from March 2020. In addition, both parties have further identified other areas of strategic development, including projects relating to blockchain technology infrastructure and joint software development and deployment. SBI Crypto is also positioned for potential equity participation in Northern Data. SBI Crypto is dedicated to crypto mining-related operations and is a wholly owned subsidiary of Japan's SBI Group. The SBI Group is a leading online financial services conglomerate that has been building out its Fintech 2.0 ecosystem since 2016 through in-house development and acquisition of innovative technologies and businesses, including its Japan-licensed digital asset exchange, various wallet and key management technologies, cybersecurity, interbank settlement platforms, and crypto-related mining businesses.
"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," said Aroosh Thillainathan, CEO of Northern Data AG. "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."
"We have been planning with Whinstone and Northern Data for the Texas mining farm since early 2019," says Carson Smith, CEO of SBI Crypto. "I am excited to see the results and to see a continuing strengthening of our relationship that will benefit the ecosystems we are creating."
SBI Crypto Co., Ltd., a subsidiary of the SBI Group, engages in cryptocurrency mining activities. The SBI Group was established in 1999 as a pioneer of Internet-based financial services in Japan. Since then, the SBI Group has formed the world's first Internet-based financial conglomerate, providing financial services in a broad range of fields including securities, banking and insurance. In addition, the SBI Group provides Asset Management Business, with a prime focus on investment in venture companies - an activity undertaken since before the Group's founding. In this sphere, the SBI Group has made focused investments in the IT and biotechnology sectors, which are the 21st century growth industries. Currently, the development of new technologies is accelerating within FinTech, IoT, AI, Big Data and related fields thus attracting global attention. The SBI Group is proactively investing in venture companies within these fields.
About Northern Data
Northern Data AG is building a global infrastructure for the field of High-Performance Computing (HPC), which goes far beyond Bitcoin and blockchain applications. The globally operating technology Company evolves from the merger of German Northern Bitcoin AG and American Whinstone US, Inc. and specializes in the infrastructure for blockchain applications, such as Bitcoin mining. For this purpose, the Company offers solutions both stationary in large data centers and in mobile containers, which can be located at any location worldwide. In doing so, it combines self-developed software and hardware with intelligent concepts for sustainable energy supply. In Texas, Whinstone is currently building the largest data center in the USA and, at the same time, the world's largest Bitcoin mining facility. The HPC data center infrastructure built by Northern Data Group is designed to be used not only for blockchain applications but also for numerous other industries, such as game streaming, artificial intelligence, and autonomous driving.
Source: Northern Data and SBI