December 20, 2017
GMO Internet Launches Cryptocurrency Mining Business
- GMO Internet, Inc.
Tokyo, Japan – December 20, 2017 – GMO Internet (https://www.gmo.jp/en/ ) announces that it has launched today a new cryptocurrency mining business through its European legal entity.
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.
The company will use cutting-edge 7 nm*1 process technology chips in the mining process, and is currently jointly working on research and development with an alliance partner who possesses the semiconductor design technology necessary to realize high level computer performance for mining (the mining board). Next-generation mining boards equipped with these mining chips will be used in the mining process in the first half of 2018.
Entering cryptocurrency mining business will enable GMO Internet to support mining infrastructure of cryptocurrencies, which are the “new universal currencies,” by leveraging our accumulated know-how in Internet Infrastructure and Internet Finance.
*1 nm: nanometer. 1/1 billion meters. 1/1 million millimeters.
The launch of cryptocurrency mining business
Cryptocurrency mining business requires computers enabling highly sophisticated and massive computation and also requires securing stable power supply to operate and cool the computers. The company operates its mining center utilizing plentiful renewable energy in Northern Europe, which has allowed us to achieve low power consumption. We are currently developing high performance computers for mining with our alliance partner who possesses semiconductor design technology. At the same time, we have been securing existing mining technology to be the first company to launch a cryptocurrency mining business in Japan.
Through test operation using current technology, we confirmed that a certain level of profitability could be secured, and therefore GMO Internet officially decided to launch the cryptocurrency mining business.
The company plans to launch mining operations using next-generation mining boards in the first half of 2018. Cutting-edge 7 nm process technology for chips will be used in the mining process, and we are currently jointly working on research and development with our alliance partner.
After the company has gained a certain level of operational experience, it will work on initiatives including provision of a cloud mining service and selling next-generation mining boards equipped with mining chips.
Please see the link below for more information on outlook for the future.
|●December 12, 2017|
“GMO Internet Group’s Partners Can Receive Part of Their Salaries in Bitcoin
|●October 24, 2017|
“GMO Internet’s Bitcoin Mining Business Launches Token Sale (ICO) for the Sales of Next-Generation Mining Boards”
|●September 7, 2017|
“GMO Internet to Enter Bitcoin Mining Business: Contributing to development of a “new borderless economic zone” through mining infrastructure of Bitcoins”
GMO Internet Group
GMO Internet Group is an Internet services industry leader, developing and operating Japan’s most widely used domain, hosting & cloud, ecommerce, security, and payment solutions. The Group also includes the world’s largest online FX trading platform, as well as online advertising, Internet media, and mobile entertainment products. GMO Internet, Inc. (TSE: 9449) is headquartered in Tokyo, Japan. For more information, please visit http://www.gmo.jp/en/ .
GMO Internet Group
Group Public / Investor Relations