SBI Crypto partners with Northern Data for blockchain development

SBI Crypto has entered into a partnership with Northern Data for blockchain development. The company, which is a wholly-owned subsidiary of Japanese financial services giant SBI Group, will be among the companies that will be hosted in Northern Data’s Texas facilities. The two will work on projects pertaining to blockchain technology infrastructure and software development.

SBI Crypto will work with Whinstone US Inc., the company that partnered with Northern Bitcoin AG to form Northern Data. Other than partnering in blockchain development, SBI Crypto is also positioned for potential equity participation in Northern Data, the press release revealed.

The partnership is the result of a process that kicked off early last year, the CEO of SBI Crypto, Carson Smith revealed. He stated, “We have been planning with Whinstone and Northern Data for the Texas mining farm since early 2019. I am excited to see the results and to see a continuing strengthening of our relationship that will benefit the ecosystems we are creating.”

Other than crypto mining, SBI Crypto has also been an investor in other crypto ventures. In early 2019, the company invested in crypto startup Breadwinner AG, the maker of the BRD wallet. The company has been a key focus for the SBI Group which has sought to solidify its position as one of the world’s largest corporate investor in crypto.

For its part, Northern Data believes that the partnership will accelerate its growth. CEO Aroosh Thillainathan remarked, “We are very pleased to have SBI as a great partner and one of the leading international financial and technology holding companies by our side. With its activities to date, SBI Holdings has impressively demonstrated its leadership in the emerging crypto and blockchain industry. This partnership gives us the potential to grow even faster by joining forces.”

Northern Bitcoin partnered with Whinstone last year to build what the two described as the largest Bitcoin mining facility in the world. The facility, which will now host SBI Crypto, is built on 100 acres in Texas, making it the largest data center in North America. The facility is still under construction and is expected to be fully operational by the end of the year.