Japanese company to invest over $300 million in mining
GMO Internet Group with its HQ situated in Tokyo is a company that usually hosts websites and operates with Internet domains, but now it’s going to start something new – large-scale cryptocurrency mining and hardware manufacturing.
The announcement on this decision has been released on their official website. It is from this PDF document we can read they plan to invest more than $300 million just in the first half of 2018. The corporation believes that cryptocurrencies have a bright future and would establish a foundation for completely borderless international economy.
The company is not only going to set up vast mining farms similar to those the public has seen in recent stunning photos from China, but also invent its own mining hardware. There are currently not much chips designed specifically for mining, although the cryptocurrency community has already seen some first examples. However, it still widely uses new gaming GPUs (designed, however, for 3D rendering).
These chips GMO offers will be built on 7nm-technology that will reduce power costs for miners, as the current chip versions use 16nm nodes. The corporation, in other words, plans to introduce the second generation of mining chips. This hardware will be available to order in pre-built mining rigs.
Mining farms owned by GMO will be available for renting and will be located in Northern Europe.
Back to the list