- European market launch of Bpal Wallet
- Joint mining activities
- Introduction of common European crypto exchange
Beijing / Frankfurt am Main – The US-based Growfund, Inc., owner of the Rawpool Group, and Northern Bitcoin AG (Xetra: NB2, ISIN: DE000A0SMU87) today signed a comprehensive strategic cooperation agreement. The strategic cooperation, which begins immediately, covers the areas of cryptowallets, Bitcoin mining and crypto-exchange, some of which significantly expand Northern Bitcoin AG’s existing business.
In addition to Chinese Rawpool, managed by CEO and founder David Li, the American Growfund Group also owns the digital purse Bpal Wallet and the crypto-purse Bi.top Exchange. Rawpool only just recently caused a worldwide sensation in mid-September of this year when the Chinese mining pool became the new market leader in global Bitcoin cash mining with 29 percent of all mined blocks. In the crypto-wallet sector, Northern Bitcoin will join forces with Bpal to launch the Bpal Wallet digital purse on the European market. Bpal Wallet is a digital application for the storage of cryptocurrencies, which also permits the receipt and dispatch of crypto money. Besides the introduction on the market in the countries of the European union, Bpal, together with Northern Bitcoin, intends to enter jointly a world-wide cooperation with financial institutions such as banks and stock exchanges within the range of cryptocurrencies. In the context of the agreement, Bpal plans to establish its European head office in Frankfurt/Main and will be extensively supported by Northern Bitcoin. In Bitcoin mining, Rawpool will use its leading market position to provide Northern Bitcoin with access to low-cost mining hardware.
In addition, the two companies will work together to further develop the mining facilities in Northern Europe and to negotiate energy costs at the sites. Northern Bitcoin and Bi.top Exchange intend to establish a joint crypto-exchange in Europe within the crypto-exchange sector. Bi.top offers the world’s first complete ecosystem for the exchange of digital assets, adding significant value over existing crypto-exchanges. Bi.top provides for the market entry its complete solution, including technical and operational support.
Mathis Schultz, CEO of Northern Bitcoin AG, comments: “The strategic collaboration with Rawpool takes Northern Bitcoin into a whole new dimension. It is great evidence of the impressive growth momentum that we, as the world’s leading sustainable Bitcoin mining company, have developed successfully in the shortest possible time.” “With Northern Bitcoin, we have found the perfect partner to introduce our rapidly-growing activities to the European market,” explains David Li, founder and CEO of the Rawpool Group. “We see our agreement as the start of a great partnership and are aware that we can dominate the market with combined forces”.
Northern Bitcoin AG is experiencing rapid growth as a result of the strong global spread of Bitcoin and its blockchain. Northern Bitcoin is the world leader in the sustainable mining of Bitcoin. Based in Frankfurt, Germany, the company operates a mining site in Norway and benefits from the rapid adaptation of Bitcoin as “digital gold” and innovative means of payment. First analysts are already predicting that the total Bitcoin transaction volume for 2018, at USD 1.3 trillion, will be several hundred billion dollars higher than Paypal’s transaction volume.