SBI Crypto Subsidiary Teamed Up With Northern Data to Set Up Mining Facility

By Chris Torres | February 14, 2020

One of the subsidiary arms of major Japan-based financial firm – SBI Holdings – is reportedly teaming up with 2 big names in Germany and US, Texas, to jointly work on a blockchain-powered mining farm. 

Disclosed on February 13th, SBI Holdings will collaborate with Whinstone – a Texas-headquartered firm in charge of running data centers in the region – and Northern Data AG, a tech establishment from Germany. Whinstone will provide support for SBI Crypto at its data centers throughout Texas, together with lending SBI Crypto a hand in building crypto-focused projects.

Carson Smith – head of SBI – specified that this initiative to set up a mining farm in Texas has been in the discussion among the 3 firms, since the beginning of 2019. 

This announcement has proven previous rumours to be true, about a possible arrival of one major mining site with joint efforts from the 3 firms, as SBI has agreed to enter a deal with Whinstone, to have the new mining facility handle crypto transactions. 

The partnership also means that SBI Crypto may put financial investment in Northern Data equity.

SBI has been showing signs of a pro-attitude towards crypto coins within the recent months, with its implementations of tech developed by Ripple, and blockchain firm R3, as a crucial move of a larger plan, to establish an international standard for financial operations, nominally international payments and trade finance.

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