Banking giant SBI Holdings launches mining pool

The Japanese financial conglomerate SBI Holdings announced the creation of a mining pool.

According to the press release, the SBI Crypto unit has been mining cryptocurrency at facilities outside Japan since 2017 and is now opening its services to users.

From March 19, they gained the ability to join the pool via an account-opening request. From April, the company will simplify the procedure for subscribing to the service.

“While many of the features developed are intended for institutional clients, the service is also available to individuals,” the statement said.

SBI Crypto uses its current hash rate of 1.1 EH/s to support the pool’s stability.

According to BTC.com, SBI Crypto Pool accounts for 1.6% of the total Bitcoin network hash rate. With a hash rate of around 2.4 EH/s it ranks 11th among pools.

Data: BTC.com.

An external security audit of the mining service was conducted by Silent Break.

SBI noted that part of the pool’s services were developed in addition to the data-centre management service as part of a strategic partnership with Northern Data AG.

Earlier, SBI Holdings acquired an institutional-focused cryptocurrency over-the-counter platform B2C2.

In February, the group, together with Sumitomo Mitsui Banking Corporation announced the launch of a blockchain exchange for digital securities.

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