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SBI Crypto opens its mining pool to the general public.

SBI Crypto opens its mining pool to the general public.


As one of the fruits of a strategic partnership between SBI and the German tech firm Northern Data AG, the pool reportedly now ranks 11th globally, according to SBI’s announcement today. It mines three assets, Bitcoin, Bitcoin Cash, and Bitcoin SV, with a revenue measured in dollars per terahash per day of $0.3897, $0.3805, and $0.3519, respectively. SBI Crypto has been self-mining digital assets in overseas mining farms since August 2017, according to the announcement. 

 

The pool was first opened on a limited release earlier this year.

Prior to its partnership with Northern Data AG and the Texas-based data center operator Whinstone US back in February 2020, SBI’s announcement summarized the mining activity saying, “SBI Crypto has been self-mining digital assets in overseas mining farms since August 2017 and continues to expand its scale. The company will use its current mining power of approximately 1.1 EH/s to support and provide stability to the pool.” The pool was first opened on a limited release earlier this year, and as of March 19, new users are able to request an account. 

 

SBI notes that many of the pool’s features are specifically designed for an institutional clientele.

By the next month, open signups without requesting an account will be available, with English, Mandarin, and Japanese services. While SBI notes that many of the pool’s features are specifically designed for an institutional clientele, individual customers can use the service. SBI Holdings’ multiple cryptocurrency ventures via various subsidiaries to date have included the introduction of a Bitcoin lending service through its crypto investment subsidiary SBI VC Trade and acquisition of crypto exchange TaoTao via its foreign exchange and derivatives arm. 

Later last year, SBI announced a joint crypto-related project with Switzerland’s principal stock exchange, SIX Swiss Exchange, and has recently hinted at further crypto-related ventures in collaboration with foreign financial firms soon.



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