Japanese financial services behemoth SBI Holdings’ subsidiaries is forming a partnership with Whinstone US Inc., the data centers operator of the Texas-based German tech company Northern Data AG.
The news was released on February 13. It says that Whinstone is going to host SBI Crypto at its Texas data center while assisting it to develop its blockchain-based projects. Carson Smith, the CEO of SBI said the company he’s working for has been making plans for Texas mining with Northern Data and Whinstone since the beginning of last year. It has also been announced that SBI crypto may make an investment in Northern Data equity.
SBI Is Serious About Mining
The announcement made today comes only to confirm previous news that are saying Whinstone and SBI were working together on an important mining operation. Reports have been mentioning that SBI signed with Whinstone an agreement to process crypto transactions at a newly opened mining facility. In November last year, Northern Bitcoin merged with Whinstone in order to build what’s supposed to be the largest mining farm in the world. The new site is reported to function at the 300 megawatts capacity and expected to reach 1 gigawatt until 2020 ends.
SBI Is Very Interested in Digital Currencies
SBI has proven to be very interested in digital currencies lately, seeing it implemented in its strategy the Ripple and blockchain consortium R3 technologies, all while trying to enable a financial operations global standard for trade finance and international payments. As an SBI financial report from September 30 last year says, the company’s crypto venture capital subsidiary, SBI VC Trade, saw in 2019 a major revenue growth, in spite of the general revenue of SBI decreasing, not to mention SBI Crypto made a considerable profit.