• Wed, 24 Apr 2019, 08:54 AM
  • All times are UTC
  • Edition:
    International
Link copied

SBI Group partners with U.S.-based semiconductor firm to manufacture crypto mining hardware

Fri, 22 Mar 2019, 11:02 am UTC

Japanese financial services giant SBI Holdings has announced the setting up of a new company that will focus on manufacturing cryptocurrency mining systems.

In a press release dated March 22, the company announced the establishment of SBI Mining Chip Co., Ltd. (SBIMC) which will “engage in manufacturing of mining chips and development of mining systems.” The move, SBI said, is a part of its strategy on digital asset related businesses.

SBI said that the development and manufacturing of crypto mining hardware will be conducted in collaboration with a large semiconductor enterprise in the U.S.

“The Group has practiced its cryptocurrency mining business at overseas and has now decided to expand its business scope to the manufacturing of mining chip itself and development of mining systems, through SBIMC,” the release said.

The new company will be led by Adam Traidman, an expert with a high level of expertise in the field of leading-edge semiconductors and a serial entrepreneur at Silicon Valley. He has previously served as the CEO of Chip Estimate, which was acquired by Cadence Design Systems in 2008; and WearSens, a wearable device developer specialized in dietary monitoring. He also serves as CEO of BRD, an investee company of the SBI Group.

Earlier this year, SBI Holdings signed a contract with enterprise blockchain software firm R3 to establish a joint venture company. More recently, the company officially launched its cryptocurrency exchange, VCTRADE.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $5,510.02 (-1.04%)
  • Ethereum (ETH) $166.18 (-5.43%)
  • XRP (XRP) $0.301800 (-7.74%)
  • Bitcoin Cash (BCH) $278.91 (-8.50%)
  • EOS (EOS) $4.92 (-8.39%)
  • Bitcoin (BTC) $5,510.02 (-1.04%)
Apr 24, 2019 (Wednesday)
07:39
Disney in talks to acquire Bitstamp and Korbit owner Nexon: Report
06:13
University of Nevada, Reno teams up with blockchain startup Filament on smart city mobility project
05:12
Crypto exchange Coinbase shuts Chicago division
04:20
MIT and other universities team up to explore blockchain potential for management of academic credentials
03:32
Societe Generale issues €100m of covered bonds as security token on Ethereum blockchain
Apr 23, 2019 (Tuesday)
11:47
Blockchain identity startup Civic expands network with 12 automated retail partners
11:02
Binance launches decentralized exchange ‘Binance DEX’ on Binance Chain
09:44
Hyundai to use blockchain in new smartphone-electric vehicle pairing technology
09:06
China opens first blockchain-powered notary office in Beijing
07:28
WISeKey to open Blockchain Center of Excellence in Saudi Arabia
07:06
Data-driven marketing firm Ascent Networks joins PUBLISH Alliance
06:17
British Virgin Islands partners with LIFElabs.io for crypto payments system
03:32
Japanese crypto exchange Zaif resumes operations after hack
Apr 22, 2019 (Monday)
11:33
Bithumb’s parent company BXA eyes US and Japanese markets for expansion
10:37
Bitcoin nonprofit BitGive partners with digital money platform Uphold
09:54
JPMorgan to add new functions to blockchain-based Interbank Information Network
09:09
Florida lawmakers introduce bill to establish blockchain task force
07:18
Dutch supermarket chain Plus to use blockchain to track bananas along supply chain
06:28
Crypto exchange Coinbase adds support for Augur’s Reputation token
05:11
Tennis superstar Serena Williams backs crypto exchange Coinbase
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft