Under the agreement, the two parties will collaborate in the development of artificial intelligence and blockchain technology.
According to a press release, this strategic partnership will facilitate the implementation of several blockchain projects.
Aroosh Thillainathan, CEO of Northern Data AG, said:
“We are able to unlock massive potential in some of the fastest-growing industries with this strategic cooperation. Canaan is a technical leader in AI and Blockchain Technology and showed an impressive growth over the past few years.”
“We are very excited about our partnership and see a huge upside for both companies,” Thillainathan said.
Accordingly, the deal is one of the first partnerships with Canaan, which is a leading AI and blockchain technology company.
For his part, NG Zhang CEO of Canaan, said:
“Northern Data has rich experience in building high-performance computing infrastructure. Our research and development (R&D) team is collaborating with Northern Data. Thus, both sides have achieved positive results.”
“Northern Data will provide computational resources support for our overseas R&D in the US. In addition, Canaan looks forward to further cooperation in product development, AI, and high-performance computing with Northern Data in the future,” he added.
Late last year, the crypto mining giant Canaan was listed on NASDAQ. Thus, it became the first NASDAQ-listed company in the Chinese blockchain sector.
Boosting global outreach
Meanwhile, Northern Data is the result of merger between German Northern Bitcoin and American Whinstone US. The company specializes in the development of blockchain apps such as Bitcoin mining.
Previously, Cryptolydian reported that Bitmain and Canaan are China’s leading mining chip manufacturers, with Bitmain supplying 66 percent of the cryptocurrency mining hardware worldwide.
As a result of the coronavirus outbreak, Bitmain, Canaan and MicroBT have released reports of delays in their after-sales services.