On May 2, 2014, Cloudhashing announced a merger with HighBitCoin, LLC. HighBitCoin provides advanced hardware solutions for Bitcoin mining. The two now unite under the banner of PeerNova, and are committed to providing distributed financial applications and transaction processing technology. Together, we will deliver a suite of applications based on the blockchain and related technologies.
“We truly believe in a future where financial transactions are enabled by mutual trust in secure and proven algorithms. The bitcoin protocol helps drive this innovation in disruptive technologies and has widespread applications in digital currency transactions, remittances, smart contracts, digital coupons, loyalty programs and others”
said Dr. Naveed Sherwani, who serves as the CEO of PeerNova.
Chairman of the Board, Atiq Raza said
“This merger marries the best of breed in the bitcoin space and technology veterans from Silicon Valley. We will be building a suite of software applications and technology platforms to address this rapidly growing market. I am truly excited to be part of this new venture.”
“HighBitCoin’s merger with CloudHashing is an unrivaled combination of expertise in Distributed Systems Architecture, Enterprise-class solutions, ASIC development, and cloud mining for the benefit of the consumer,” said Emmanuel Abiodun. “This merger offers Bitcoin mining customers the most technologically advanced solutions along with the ease of use that CloudHashing is famous for. It’s a win-win for everyone and takes mining to the next level.”
The Key Strategic Benefits of the Merger Include the Following
· An unmatched range of products and services, from specialized infrastructure for digital currency transactions to cloud services.
· The ability to make significant investments in technology and software and lead innovation in distributed financial applications.
· Competitive pricing for our customers as we leverage savings from superior technical design, reduced hardware acquisition and operational cost reduction.