- Both companies said the collaboration will offer a competitive advantage over rivals in the industry.
- The deal will allow Northern Data to offer its computational resources to Canaan’s overseas R & D department in the U.S.
- Northern Data says the partnership will unlock huge growth potentials for both companies.
Northern Data AG a blockchain infrastructure firm, and Canaan Creative, a manufacturer of crypto mining hardware, are partnering to develop Data Center operations, artificial intelligence, and decentralized technology.
Canaan is the second biggest manufacturer of an “Avalon” branded hardware used in mining Bitcoin. According to the announcement, the company has a wealth of experience in the manufacture of ASIC hardware and Artificial intelligence chips.
Partnership needed to outperform competitors
The companies decided to collaborate in order to have a competitive advantage over their rivals. The partnership is expected to occur between the Asia-based R & D team of Canaan and the team of Northern Data in Europe and North America.
Both firms have high expectations in the deal. It will afford them the opportunity of bringing their expertise and work together to form a strong synergy. The companies said the deal will help them exchange ideas and technologies to further enhance their growth and competitive ability in the industry.
Canaan CEO, NG Zhang, said that Northern Data is an expert in the development of high-level computing technology. He said both companies have done relatively well in the industry, but their present individual level will not be enough to compete with other big players effectively. According to him, that’s why collaboration is needed.
The deal will allow Northern Data to bring its computational resources
The deal will see Northern Data infuse its technological knowledge in research and development. Canaan is optimistic about the success of the deal in areas of high-performance computing, artificial intelligence, and product development.
Northern Data has been involved in a similar partnership in the past, although it was more of a merger. The name “Northern Data” is a merger between American Whinstone US and Northern Bitcoin.
And recently, it also partnered with SBI Crypto, which is a subsidiary of SBI Holdings, Japanese Financial services giant. The partnership was for a crypto mining project both firms are working to accomplish.
The deal will unlock huge growth potentials
While discussing the partnership, CEO of Northern Data Aroosh Thillainathan, stated that the partnership will enable both firms to unlock huge potential in the fastest-growing industries. The collaboration will benefit both parties immensely as they can bring their unique resources together to further consolidate their growth and achievements so far.
Aroosh also revealed that Canaan has already proved its impetus in Blockchain and AI technology, going by its track record in the industry.
He said Northern Data is very optimistic about the partnership as both companies have a great chance to improve speedily.