Decrypt’s Art, Fashion, and Entertainment Hub.
Though details of the business arrangement are sparse, the companies stated in a joint release that they will pool their resources in the “areas of Artificial Intelligence (AI) development, Blockchain Technology and Datacenter operations.” Neither firm immediately responded to Decrypt’s request for additional information.
In a statement, Canaan CEO NG Zhang complimented his new business partner’s “rich experience in building high-performance computing infrastructure," adding that Canaan’s research and development team will now be “collaborating” with Northern Data.
Its deal with Canaan is the latest in a string of big moves for Northern Data, formerly known as Northern Bitcoin prior to its merger with datacenter developer Whinstone US last year.
The two firms merged in an effort to build a new massive Bitcoin mining facility in Texas. The new joint company, Northern Data AG, claimed at the time that the facility will be “the largest data center in North America and the largest Bitcoin mining facility in the world.”
Earlier this month, Northern Data also announced a partnership with Japanese mining firm SBI Crypto, which plans to be one of the first companies housed in the Texas facility slated to open this year.
The state of Texas is quickly becoming a favorite host for Bitcoin mining facilities vying for the title of “largest in the world.” Last year, Bitmain launched a 33,000 acre facility in Rockdale, Texas. Layer 1, backed by PayPal co-founder Peter Thiel, also opened a Bitcoin mining facility in the state today.