130-Year-Old German Bank Partners With Bitcoin Consulting Firm for Innovative Offerings

Today, Volksbank Raiffeisenbank Bayern Mitte eG, a Bavarian cooperative bank with an ~130-year history, has entered into a long-term partnership with GmbH, according to a press release sent to Bitcoin Magazine. The Ingolstadt-based cooperative bank and the young startup, terahash, will collaborate on promoting topics related to Bitcoin and develop new offerings.

“We are expanding our options as part of our Bitcoin strategy with terahash’s broad expertise in Bitcoin and mining,” said Andreas Streb, Deputy Chairman of the Board 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 a pioneer among regional banks in Germany, exclusively offering Bitcoin only related services to its customers. The bank has embraced Bitcoin as a key focus, marking a commitment to providing more Bitcoin related services.

“Terahash and VR Bank Bayern Mitte complement each other perfectly,” stated Kristian Klager, CEO of GmbH. “The strategic partnership is an important step for us, we can use the synergies and combine our strengths even better.” GmbH, established only a year ago as a spin-off from a 70-year-old family business in the Augsburg area, operates the platform. This platform aims to serve as a “comprehensive digital space” to foster connections within and beyond the Bitcoin market environment. Terahash’s primary focus lies in consulting and planning within Bitcoin, energy, and data centers, emphasizing the use of renewable energies and innovative technologies.

The strategic partnership aims to synergize VR Bank’s reliability and innovation with terahash’s expertise, according to the release, fostering joint efforts in service and educational development over the coming years. The collaboration also extends to the planning of the 2nd Bitcoin Forum in Ingolstadt, scheduled for April 12, 2024, which will feature a Bitcoin Business & Energy Area catering to B2B enthusiasts and companies.