Japanese giants long on Bitcoin, 500PH/s GMO Bitcoin Farm & DMM Virtual Currency Division

GMO is an internet giant company in Japan, headquartered in Tokyo, which offers a large range of internet service worldwide.

With an internet infrastructure of more than 8 million customers, ranks number one in Japan, and of course is listed on the Tokyo Stock Exchange. 

Now, the company, which offers web hosting and a range of other digital services, is expanding its portfolio with the mining operation, which is set to start in the first half of 2018.

“We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe”

GMO stated, emphasizing that they will invest in R&D and manufacturing of hardware including the next-generation mining chip. “We will use cutting-edge 7 nm process technology for chips to be used in the mining process, and jointly work on its research and development and manufacturing with our alliance partner having semiconductor design technology.”

“The virtual currency feels the possibility to change the way of the world as a result of currency and financial business, removing the boundary line of “money” from the world.
Entering the virtual currency mining (bitcoin mining) business, we will extend the “virtual currency” possibly changing the world to everyone. ” – Masatoshi Kumagai – GMo Founder

Apparently, the plans of GMO includes a cloud mining platform, through which customers can buy a certain amount of hashrate over a period of time in the idea of earning Bitcoins. Other than that, the company is planning to use the mining factory to support its cryptocurrency exchange, with the coins generated being used to provide liquidity for its marketplace.

GMo”Next Generation Mining Center” (Concept)

Single unit specification: Calculation performance 10 TH / s
Power consumption 500 W or less
Input Mining chips: Increase stepwise from 50,000 chips
Total power: 500 PH / s
Facility Rack, air conditioning, distribution, fire fighting, security
Power Renewable energy (geothermal, hydropower)

Chip are 100% Japan made 10 TH / s with one module. 48 V DC power supply. 8 modules on 1 system board. 1 blade with 2 boards. 8 blades per rack, 1.25 PH / s. The data center is 500 PH / s with a floor area of 16 × 35 m.

In related news, another large Japanese company, DMM, announced the launch of its own Virtual Currency Division, scheduled to begin operation of a virtual currency mining business “DMM Mining Farm” in October 2017. According to the company, which hasn’t released further information, DMM will operate one of the 10 largest mining farms in the world before the end of 2018.