130-year-old German bank partners with Bitcoin consulting firm for innovative proposition
Volksbank Raiffeisenbank Bayern Mitte eG, a Bavarian cooperative bank with a history now of around 130 years, has signed a long-term partnership with terahash.energy GmbH, according to a press release sent to Bitcoin Magazine. The Ingolstadt-based cooperative bank and the young startup terahash will collaborate to promote topics related to Bitcoin and develop new products.
“We are expanding our options as part of our Bitcoin strategy with terahash’s extensive expertise in Bitcoin and mining,” said Andreas Streb, Vice Chairman of the Board of Directors of VR Bank Bayern Mitte eG. “Together we can educate and develop solutions for our customers.”
Since April 2022, VR Bank Bayern Mitte eG has been the pioneer among German regional banks to exclusively offer Bitcoin-related services to its customers. The bank has embraced Bitcoin as its core focus and has signaled its commitment to offering more Bitcoin-related services.
“Terahash and VR Bank Bayern Mitte complement each other perfectly,” said Kristian Klager, CEO of terahash.energy GmbH. “The strategic partnership is an important step for us. It allows us to leverage synergies and combine our strengths more effectively.”
Terahash.energy GmbH, founded just one year ago as a spin-off of a 70-year-old family business in the Augsburg region, operates the terahash.space platform. The platform aims to serve as a “comprehensive digital space” to foster connections within and across the Bitcoin market environment. Terahash’s primary focus is consulting and planning within Bitcoin, energy and data centers, with an emphasis on the use of renewable energy and innovative technologies.
This strategic partnership aims to synergize VR Bank’s reliability and innovation with terahash’s expertise to foster joint efforts in future service and training development. This cooperation also extends to plans for the 2nd Bitcoin Forum in Ingolstadt, scheduled for April 12, 2024. This forum will showcase Bitcoin business and energy areas for B2B enthusiasts and enterprises.
