Japan’s SBI Group Establishes New Company To Manufacture Crypto Mining Chips

Japanese financial services giant SBI Group has established a new company that will manufacture crypto mining chips and systems.

Called SBI Mining Chip (SBIMC), the new company will be working with an unnamed large semi-conductor enterprise in the US to manufacture mining chips and develop mining systems. The company’s objective is to promote efficient, reliable and sustainable mining operations to develop a sound and solid cryptocurrency market.

SBIMC will be headed by Adam Traidman, an expert with a high level of expertise in the field of leading-edge semiconductors and other electronics. Traidman has developed his career at Silicon Valley as a serial entrepreneur for over 20 years, and served as CEO of Chip Estimate and WearSens. He also serves as CEO of BRD, an investee company of the SBI Group.

“The SBI Group strongly promote on a wide range of businesses based on the digital asset, including cryptocurrency exchange business and other blockchain related businesses,” SBI said. “The Group has practiced its cryptocurrency mining business at overseas and has now decided to expand its business scope to the manufacturing of mining chip itself and development of mining systems, through SBIMC.”

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