Northern Data and SBI Crypto announce strategic cooperation

  • Northern Data and SBI Crypto to strategically cooperate in areas of applied blockchain technologies
  • A wholly owned subsidiary of Japan’s SBI Group, SBI Crypto to be hosted at Northern Data’s new data center facility in Texas
  • Other areas of cooperation identified

Frankfurt on the Main / Tokyo – February 13, 2020 – Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87) and Whinstone US Inc., announce a strategic cooperative relationship with SBI Crypto Co., Ltd., a wholly owned subsidiary of SBI Holdings Inc. (Tokyo: 8473) in the areas of applied blockchain technology.

SBI Crypto will be one of the first enterprises hosted at Whinstone US’ new data center in Texas being delivered from March 2020. In addition, both parties have further identified other areas of strategic development, including projects relating to blockchain technology infrastructure and joint software development and deployment. SBI Crypto is also positioned for potential equity participation in Northern Data.

SBI Crypto is dedicated to crypto mining-related operations and is a wholly owned subsidiary of Japan’s SBI Group. The SBI Group is a leading online financial services conglomerate that has been building out its Fintech 2.0 ecosystem since 2016 through in-house development and acquisition of innovative technologies and businesses, including its Japan-licensed digital asset exchange, various wallet and key management technologies, cybersecurity, interbank settlement platforms, and crypto-related mining businesses.

“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,” said Aroosh Thillainathan, CEO of Northern Data AG. “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.”

“We have been planning with Whinstone and Northern Data for the Texas mining farm since early 2019,” says Carson Smith, CEO of SBI Crypto. “I am excited to see the results and to see a continuing strengthening of our relationship that will benefit the ecosystems we are creating.”

About SBI:
SBI Crypto Co., Ltd., a subsidiary of the SBI Group, engages in cryptocurrency mining activities. The SBI Group was established in 1999 as a pioneer of Internet-based financial services in Japan. Since then, the SBI Group has formed the world’s first Internet-based financial conglomerate, providing financial services in a broad range of fields including securities, banking and insurance. In addition, the SBI Group provides Asset Management Business, with a prime focus on investment in venture companies – an activity undertaken since before the Group’s founding. In this sphere, the SBI Group has made focused investments in the IT and biotechnology sectors, which are the 21st century growth industries. Currently, the development of new technologies is accelerating within FinTech, IoT, AI, Big Data and related fields thus attracting global attention. The SBI Group is proactively investing in venture companies within these fields.

Share

Share on twitter
Share on linkedin
Share on email
Share on telegram
Share on whatsapp

IR CONTACT

Sven Pauly
Phone: +49 89 125 09 03 30
E-Mail: ir@northernbitcoin.com

PR CONTACT

Dr. Hans Joachim Dürr
Head of Corporate Communications

Phone: +49 69 34 87 52 89
E-Mail: presse@northernbitcoin.com

DISCLAIMER

This press release does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for any securities of Northern Data AG and does not constitute a prospectus of Northern Data AG. The information contained in this press release is not intended to form the basis of any financial, legal, tax or other business decision. Investment or other decisions should not be made solely on the basis of this press release. As with all business and investment matters, please consult qualified professional advice. This release and the information contained herein are not for distribution, directly or indirectly, in or into the United States of America, Canada, Australia or Japan.