SBI’s mining arm will be named SBI Mining Chip Co., Ltd or SBIMC and will be led by the former president of the Chip Estimate Corporation, Adam Traidman. This move puts SBIMC in direct competition with the leading chip manufacturer, Nvidia. Ripple partner SBI Holdings is entering the mining space by establishing their chip mining arm, SBI Mining Chip Co., Ltd or SBIMC. SBI stated: “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. 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.” SBIMC will be led by Adam Traidman, former NASA employee and former president of the Chip Estimate Corporation. This has been seen as a strategic move by the Tokyo-based firm to enhance its existing digital asset business. Traidman and his team will work with an undisclosed US-based “large semiconductor enterprise” to develop the mining systems and manufacture the mining chips. SBI said, “The SBI Group will promote efficient, reliable and sustainable mining operations to develop a sound and solid cryptocurrency market.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Bitmex CEO: Bitcoin to hit $10,000 by year end FX Street 4 years SBI's mining arm will be named SBI Mining Chip Co., Ltd or SBIMC and will be led by the former president of the Chip Estimate Corporation, Adam Traidman. This move puts SBIMC in direct competition with the leading chip manufacturer, Nvidia. Ripple partner SBI Holdings is entering the mining space by establishing their chip mining arm, SBI Mining Chip Co., Ltd or SBIMC. SBI stated: "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. The Group has practiced its cryptocurrency mining business at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.