The globe’s second biggest Bitcoin mining equipment developer, Canaan Creative is joining forces with Norther Data AG, a blockchain infrastructure company, to combine their synergies in various fields related to the blockchain and crypto industry.
According to a press statement released on Feb. 19, the two dominant players within the world blockchain industry, announced that they had formally entered into a partnership to bring their technological as well as operational prowess together for different projects in the industry.
Some of the key areas where the two firms will cooperate are in regards to artificial intelligence, development of blockchain based solutions and also large scale optimization of data center operations.
Northern Data has been steadfast in developing infrastructure used in high-performance infrastructure which can be applied even beyond blockchain technologies. The firm was formed after the merger of Northern Bitcoin AG, a blockchain infrastructure company based in Germany, and Whinstone US Inc, a data center operator based in the US. As per NG Zhang, Canaan Creative’s CEO,
“Our R&D team is collaborating with Northern Data. Both sides have achieved positive results. In addition, Northern Data will provide computational resources support for our overseas R&D in the U.S. Canaan looks forward to further cooperation in product development, AI, and high-performance computing.”
According to Cointelegraph, Canaan deals with the provision of AI chips as well as high-end mining hardware comprising of ASICs. The firm claims that it has produced more than 150 ASICs dating back in 2017 up to September last year. The firm was recently registered on NASDAQ making it a public trading company. This is a crucial milestone for the firm as it became the inaugural Chinese-based AI chips developer to fruitfully float an IPO in the United States.
According to the press statement, Northern Data AG praised the new deal and stated that it looks forward to ink such deals with various blockchain as well as AI developers in the near future. The current deal with Canaan comes just a few months after Northern Data AG partnered with SBI Crypto from Japan.