• Thu, 27 Jun 2019, 06:48 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
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. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $12,370.90 (-2.20%)
  • Ethereum (ETH) $321.82 (-3.00%)
  • XRP (XRP) $0.426600 (-10.09%)
  • Bitcoin Cash (BCH) $460.09 (-5.84%)
  • Litecoin (LTC) $117.64 (-13.06%)
  • Bitcoin (BTC) $12,370.90 (-2.20%)
Jun 27, 2019 (Thursday)
06:25
Former FinCEN, DOJ officer Michael Mosier joins blockchain analytics firm Chainalysis
06:22
Digital assets benefitting from ongoing regulatory clarification; IEO is the new crypto fundraising instrument: CVA and PwC Strategy& Report
06:07
Coinbase Pro now supports Chainlink (LINK) trading
05:13
CoinMarketCap acquires Hashtag Capital to enhance crypto data offering
04:20
Blockchain startup dfuse raises $3.5M, led by Multicoin Capital and Intel Capital
03:41
CZ: 'the future is here' as Binance transfers $1.2B in BNB in 1 second for $0.01
03:37
Square rolls out bitcoin deposits for all Cash App users
Jun 26, 2019 (Wednesday)
12:45
Opera launches blockchain-ready browser for iOS
12:16
Crypto Technicals: ETH/USD hits new 10-month highs at 340, eyes 396 (23.6% Fib)
11:14
Northern Trust hands over private equity blockchain technology platform to Broadridge
10:06
Amun launches new ETP using Bitwise 10 Select Large Cap Crypto Index
09:08
Startup Lolli partners with Hotels.com to reward travelers with bitcoin
09:04
SWIFT to give blockchain-based firms access to its GPI payments
08:52
Germany's CDU and CSU Union wants to incorporate blockchain in public services
07:46
Crypto firm LedgerX obtains CFTC approval for physically-settled derivatives contracts
07:45
Crypto Technicals: XMR/USD fails to track gains in Bitcoin, slips below 100, bias turning bearish
06:54
EY to utilize Guardtime’s blockchain, Sensyne Health’s AI for outcome-based health payments
06:35
Q2 Solutions, HSBlox, and R3 successfully conduct proof-of-concept blockchain application in clinical research
06:20
TP ICAP enters crypto business to trade bitcoin futures
06:04
Israeli brothers arrested for 2016 Bitfinex hack, global retrieval effort underway
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft