Two major players in the global blockchain industry have signed a strategic partnership to pool together their technological and operational achievements.

According to a Feb. 19 press release, Canaan Creative, the globe's second-largest Bitcoin (BTC) mining hardware manufacturer, and blockchain infrastructure business firm Northern Data AG were joining forces to work across several fields.

In particular, the two firms will cooperate on artificial intelligence and blockchain development, equally well equally on optimizing data eye operations at scale.

Expanding technology and global outreach

Northern Data focuses on building out infrastructure for high-performance computing, whose applications can extend beyond blockchain technology. The company was created out of a merger betwixt Federal republic of germany's blockchain infrastructure firm Northern Bitcoin AG and the Usa' Whinstone US Inc., a data centre operator.

Canaan Artistic's CEO, NG Zhang, outlined that the new partnership will allow for both technological advancement and geographic expansion:

"Our R&D team is collaborating with Northern Data. Both sides accept accomplished positive results. In add-on, Northern Data volition provide computational resources support for our overseas R&D in the U.S. Canaan looks frontward to further cooperation in product evolution, AI, and high-performance computing."

Canaan'south own field of expertise lies in AI chip development and specialized mining hardware, including ASICs. ASIC refers to hardware that uses Application-Specific Integrated Circuit (ASIC) chips, which are tailored to efficiently mine crypto based on a specific hashing algorithm.

Canaan claims information technology produced over 150 one thousand thousand ASICs from 2022 through to September 2022. It is also a pioneer of the Bitcoin-tailored 7 nanometer chip and was recently listed on NASDAQ. This is meaning insofar as it is purportedly the first China-based AI scrap manufacturer with independent intellectual holding to successfully bladder an initial public offering in the U.Due south.

Northern Information AG has revealed its plans to forge further partnerships with major blockchain and AI developers in the coming months.

Swift developments

Earlier this calendar week, Canaan's shares striking a value at $8.04 — a surge of over 80% from its opening price of $4.42. Back in fall 2022, when information technology starting time launched its Nasdaq IPO, shares had been valued at over 75% lower than expected, going on to shed a further 40% by mid-December.

In recent developments for Northern Data, the firm has but unveiled a partnership with SBI Crypto, a cryptocurrency-focused subsidiary of Japanese financial services behemothic SBI Holdings.

In fall 2022, Northern Data — then known equally Northern Bitcoin — entered its merger agreement with Whinstone to jointly build what will ostensibly be the world's largest mining subcontract, located in Texas.

The new site will reportedly launch operations with an initial chapters of 300 megawatts, expected to hitting 1 gigawatt by the close of 2022.