- The merger will allow the companies to create the largest Bitcoin mining facility in Texas.
- As a joint company, Whinstone and Norther Bitcoin AG become a leading global player.
Northern Bitcoin AG is responsible for the operation of a Bitcoin Mining Site in Louisiana and is presently working on developing the biggest Bitcoin mining facility in the world. According to a recent press release from BusinessWire, Northern Bitcoin decided to eliminate their competitor Whinstone US, Inc. by signing a merger agreement with them.
The Whinstone Group has been involved in the blockchain industry for the last five years, establishing its own mining facilities that are located in the US, along with Sweden and the Netherlands. The most recent site for the company was established in Texas across 100 acres, making it the largest data center in all of North America and the largest facility for mining Bitcoin.
The first construction phase of the new facility is scheduled for the first quarter of next year, and the company will end up ranking at the top of the industry worldwide. Two stock-listed corporations are the first customers of this site, which will use much of the 300 megawatts of capacity that will be available at the time.
Along with the focus on blockchain applications, the data center will be usable for the purpose of video rendering and artificial intelligence applications. The co-founder and managing director of Whinstone, Aroosh Thillainathan, elaborated, saying:
“With stock-listed Northern Bitcoin AG, we have found the ideal partner to position our successful business development on the capital market from now on. The joint company has the immediate potential to shape the future course of the global mining industry.”
Mathis Schultz, the CEO of Northern Bitcoin AG, chimed in on this merger as well, commenting:
“With this merger, we are catapulting ourselves faster than originally planned to the top of the world in Bitcoin mining. Whinstone’s team has done a great job over the past few years and is proving its leadership in the blockchain industry by building the world’s largest mining facility.”
Schultz added that their collaboration offers a “dominant leadership position” in cryptocurrency and that both companies are set to “benefit significantly” as blockchain technology progresses.
The joint efforts of the two companies will make their merged brand into a global leader for Bitcoin mining. The arrangement allows the management of Whinstone to complement the management that already exists for Northern Bitcoin AG.
Learn more about Northern Bitcoin at www.northernbitcoin.com.