SBI Launches Mining Pool

The large Japanese conglomerate SBI has announced the launch of a cryptocurrency mining service to be offered through its subsidiary SBI Crypto. SBI has independently mined digital assets on foreign mining farms since August 2017 and now opens its services to the general public. From March 19, users will be able to join the pool through a request to open an account. From April, the service signup procedure will be simplified.

The SBI Crypto mining pool accounts for 1.6% of the total computing power of the Bitcoin network with a hash rate of 1.82 EH/s. It competes with giants like Poolin, F2Pool, and Binance. SBI developed its mining infrastructure as part of a strategic partnership with Northern Data AG, and part of the pool's services were designed to complement the data center management services.

In addition to mining pool services, the Tokyo-headquartered company has previously formed a subsidiary to manufacture crypto mining equipment. The holding group is also considering setting up a crypto joint venture with international financial companies to expand its crypto business globally.

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