A subsidiary of the Japanese financial giant SBI Holdings has announced a strategic partnership with the German mining company Northern Data AG. Within its framework, SBI Crypto will be one of the first residents of the new Whinstone US data center, potentially the largest in the world.
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In the structure of the holding, SBI Crypto is engaged in the mining business. In addition, partners identified other areas of cooperation, including the development of infrastructure projects based on blockchain and software development.
SBI Crypto is also considering buying a stake in a German company.
Last November, Northern Data took over the American company Whinstone US, which was building in Texas a data center for mining bitcoin with a capacity of 1 GW and an area of 57 football fields. Its first phase with a capacity of 300 MW will open by March 2020.
According to Carson Smith, CEO of SBI Crypto, the company has planned to participate in joint mining operations in Texas with Northern Data and Whinstone US since the beginning of last year.
Since 2016, SBI Holdings has been collaborating with fintech company Ripple through a joint venture of SBI Ripple Asia. The new joint venture will serve not only Japan, but also countries such as China, Taiwan and South Korea, as well as ASEAN countries (Association of Southeast Asian Nations).