The world’s second-largest Bitcoin mining hardware manufacturer Canaan Creative joined forces with the blockchain infrastructure firm Northern Data AG. The purpose of this agreement is to combine their technological and operational achievements. This way crypto mining company and Norther Data AG will optimize their operations.
For example, the two companies will cooperate on artificial intelligence as well as blockchain development. Moreover, they will optimize data center operations at scale.
Let’s have a look at the Northern Data AG. This infrastructure firm is creating the infrastructure for high-performance computing, whose applications can extend beyond blockchain technology. The company is focused on such projects.
Northern Data AG came to existence as a result of a merger between Germany’s blockchain infrastructure firm Northern Bitcoin AG and Whinstone U.S. Inc. This U.S. company is a data center operator.
NG Zhang is the CEO of Canaan Creative; he commented on this topic. Thanks to a new partnership, both companies will be able to achieve several goals, such as geographic expansion and technological advancement.
Crypto industry and new opportunities
Now, it is time to learn more about the crypto mining hardware manufacturer. Canaan is producing specialized mining hardware, including ASIC. The company’s sphere of interest also includes AI chip development.
According to the company, it produced more than 150 million ASICs from 2017 to September 2019. Moreover, it was the first company when it came to the Bitcoin-tailored 7 nanometer chip. Also, shares of Canaan are listed on Nasdaq.
It is worth mentioning that Canaan Creative is the first China-based AI chip manufacturer to successfully float an initial public offering (IPO) in the U.S.
Interestingly, earlier this week, shares of the company reached $8,04; thus, the price of its shares increased by more than 80% from its opening price.
Canaan and Northern Data AG made the right decision. Thanks to the cooperation they will be able to modernize and enhance their companies.