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SBI Crypto’s Bitcoin mining pool goes public

SBI Crypto’s Bitcoin mining pool goes public

SBI Crypto’s Bitcoin mining pool goes public

SBI Crypto, the mining subsidiary of Japanese financial conglomerate SBI Holdings, has opened its mining pool to the public.

Thanks to the strategic partnership between SBI and German technology company Northern Data AG, the pool is now available, according to a statement released by SBI on 19. Mars is now ranked 11th in the world. The company operates three assets, Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV), with dollar revenues per terahash per day of $0.3897, $0.3805 and $0.3519, respectively.

Ahead of its February 2020 partnership with Northern Data AG and Texas-based data center operator Whinstone US, SBI’s statement summarizes the company’s mining activities to date as follows:

SBI Crypto has been developing its own digital assets on overseas mining farms since August 2017 and continues to grow. The company will use its current production capacity of approximately 1.1 p.e./s to support and ensure the stability of the pool.

The pool first opened on a limited basis earlier this year and has been open since the 19th. New users of March can apply for an account. Starting in April, open enrollment will be available with no account requirements, with services in English, Mandarin and Japanese. Although SBI points out that many of the pool’s features are specifically designed for institutional clients, retail clients can also use the service.

SBI Holdings continues to be involved in several cryptocurrency ventures through various subsidiaries, including the launch of bitcoin lending services through its cryptocurrency investment subsidiary SBI VC Trade and the acquisition of cryptocurrency exchange TaoTao through its foreign exchange and derivatives division.

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In December 2020, SBI announced a cryptocurrency-related joint venture with the leading Swiss exchange, SIX Swiss Exchange, and recently hinted at launching new cryptocurrency-related ventures in partnership with foreign financial firms in the near future.

The Japanese conglomerate has also been active in Ripple, supporting the company during its ongoing legal troubles in the US. SBI CEO Yoshitaka Kitao has previously stated that Japan would be the most likely country to host Ripple if it were forced to leave the US.

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