According to a press release, it was announced that Cloudhashing.com and HighBitCoin,LLC signed a merger agreement. Cloudhashing.com is a company that offers virtual mining on a cloud service, and HighBitCoin offers Bitcoin mining hardware solutions. PeerNova is the result of the merger between these two companies.
PeerNova is to become “a leader in distributed financial applications and transaction processing technology,” according to the press release. The current President of HighBitCoin, LLC will become the CEO of PeerNova. His name is Dr. Naveed Sherwani and before joining HighBitcoin, LLC, he was the president of ASIC provider Open-Silicon. Emmanuel Abiodun who is the CEO of Cloudhashing.com will become the president of PeerNova. The Chairman of Board of Directors will be Atiq Raza, the former president and COO of AMD. Dr. Sherwani said,
“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.”
As a result of the merger, customers will receive a wider range of products and services, make investments in technology, and receive competitive prices and save money. Speaking about the merger, Emmanuel Abiodun said, “HighBitCoin’s merger with Cloudhashing.com is an unrivaled combination of expertise in Distributed Systems Architecture, Enterprise-class solutions, ASIC development, and cloud mining for the benefit of the consumer.” He added,
“This merger offers Bitcoin mining customers the most technologically advanced solutions along with the ease of use that Cloudhashing.com is famous for. It’s a win-win for everyone and takes mining to the next level.”
Atiq Raza, the PeerNova Chairman of Board of Directors believes that the merger will combine the “best of breed in the bitcoin space” and veterans from Silicon Valley.
In addition to the merger, Cloudhashing.com and HighBitCoin, LLC are announcing the start of a Digital Currency Research Consortium (DCRC). The DCRC’s goal is to research software and hardware development through the partnership of the two companies. It will also partner with research centers and universities to publish research, and develop new projects.