GMO Internet Co., Ltd.
(hereinafter, GMO Internet) announced today that we started the virtual currency mining business on Wednesday, December 20, 2017 through a European corporation.
The virtual currency mining business is carried out by using existing mining equipment at facilities (mining center) installed in Scandinavia. From now on, we will gradually introduce equipment and expand our business.
The mining facility will be equipped with a computing power at 500 petahashes per second (PH/s).
"The cryptocurrency mining business will use existing technology to mine from facilities (mining centers) in Northern Europe. GMO Internet will increase the size of the operation in phases, expanding the business," GMO said in its statement.
In addition, with the aim of realizing a high-performance computer (next generation mining board)
that performs mining now, together with a partner company with semiconductor design technology, a semiconductor chip (mining chip) utilizing state-of-the-art 7 nm
(* 1) We are also promoting research and development. The introduction of the next generation mining board using this mining chip is scheduled for the first half of 2018.
The GMO Internet will support the healthy operation of the virtual currency which is the "global common new currency" through mining business making full use of the know-how of the Internet infrastructure business and net finance business that we have cultivated up to now.
Mining center appearance [About the start of mining business]
In order to conduct the mining business of virtual currency, it is necessary to secure a computer that can perform advanced and enormous calculation processing and secure stable electric power for its operation and cooling. In the GMO Internet, low power is realized by installing a mining center in Northern Europe where rich renewable energy is available. For high-performance computers that do mining, we are currently developing with partner companies that have semiconductor design technology. On the other hand, we proceeded with procurement of existing mining equipment to start business earlier.
As a result of conducting test operation with the equipment procured this time, we were able to confirm that certain profitability could be secured, so we started carrying out the mining business.
Today, we are researching and developing semiconductor chips (mining chips) utilizing state-of-the-art 7 nm process technology together with our partner companies, and we plan to start mining operations on next-generation mining boards using this technology in the first half of 2018.
After that, after a certain operation, we are planning to work on cloud mining and sales of "next generation mining board" with mining chip in order.
For future development of the mining business, please refer to the "Virtual currency mining (mining)" special site (URL: https://mining.gmo.jp/
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-- October 24, 2017 --
"Utilize ICO in Bitcoin Mining Business Start Investigating Token Sale on Next-Generation Mining Board Sales"
-- September 7, 2017 --
"Enter the virtual currency mining (bit coin mining) business"