The current market conditions have made Japanese e-commerce conglomerate DMM.com Ltd. Take a decision to shut down its crypto mining business.
By Julia SakovichUpdated
3 mins readPhoto: DMM.com / Instagram
A little bit more than a year ago crypto mining achieved enormous popularity. Individuals were creating their private mining farms, entrepreneurs were opening new mining companies and already existing enterprises were launching new divisions to deal with Bitcoin mining.
But now when the market situation has changed, numerous companies have taken a decision to shut down their mining activity. One of the companies that also was affected by this trend and then was obliged to quit this business is Japanese e-commerce conglomerate DMM.com Ltd.
Back to 2017: Mining Farm
In September 2017, DMM, one of the largest e-commerce sites in Japan, announced its plans to launch a large-scale cryptocurrency mining farm. It also revealed its goal to become one of the world’s top-10 major mining farms by the end of 2018 and then to occupy a position among the top-3 largest mining farms.
The company was going to mine the major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). And in February 2018, it began its mining activities at a large-scale farm in the city of Kanazawa, the capital of the Ishikawa Prefecture.
Some months later, in April, there were even plans to open a so-called showroom to demonstrate how 1,000 mining machines on a 500 square meter site were working. Nevertheless, due to security concerns and theft risks, the decision was reversed.
Declining Profitability of Mining Business
Though some time ago it seemed that crypto mining would thrive forever, these forecasts haven’t been translated into reality. The feasibility of operating large-scale mining farms has decreased dramatically pushing companies to take serious measures.
As it has become known, DMM is going to dismantle mining operations. It is believed that this decision was taken in September 2018, nevertheless, the initial steps to quit this business, including selling the mining hardware owned by the company, are scheduled for the first half of 2019.
According to DMM, currently, it is not the best time to try to encourage new cryptocurrency traders to join the industry due to the ongoing bear trend and people’s fear to become victims of hackers (as it occurred at the beginning of 2018 with Coincheck clients). As a result, it has become practically impossible for large mining farms operators to survive.
Nevertheless, there is no information whether DMM is going to close its regulated cryptocurrency exchange that was launched a year ago.
Other Companies Quitting the Game
It’s also worth mentioning that DMM is far not the first company to quit crypto mining these days. Just some days earlier, Japanese internet giant GMO Internet Group informed that it would cease developing, manufacturing and selling Bitcoin miners due to high losses in Q4 2018.
In general, according to officially revealed data, at least 100,000 individual miners have shut down since early September 2018.
I’m a content writer and editor with extensive experience creating high-quality content across a range of industries. Currently, I serve as the Editor-in-Chief at Coinspeaker, where I lead content strategy, oversee editorial workflows, and ensure that every piece meets the highest standards. In this role, I collaborate closely with writers, researchers, and industry experts to deliver content that not only informs and educates but also sparks meaningful discussion around innovation.
Much of my work focuses on blockchain, cryptocurrencies, artificial intelligence, and software development, where I bring together editorial expertise, subject knowledge, and leadership experience to shape meaningful conversations about technology and its real-world impact. I’m particularly passionate about exploring how emerging technologies intersect with business, society, and everyday life. Whether I’m writing about decentralized finance, AI applications, or the latest in software development, my goal is always to make complex subjects accessible, relevant, and valuable to readers.
My academic background has played an important role in shaping my approach to content. I studied Intercultural Communications, PR, and Translation at Minsk State Linguistic University, and later pursued a Master’s degree in Economics and Management at the Belarusian State Economic University. The combination of linguistic, communication, and business training has given me the ability to translate complex technical and economic concepts into clear, engaging narratives for diverse audiences.
Over the years, my articles have been featured on a variety of platforms. In addition to contributing to company blogs—primarily for software development agencies—my work has appeared in well-regarded outlets such as SwissCognitive, HackerNoon, Tech Company News, and SmallBizClub, among others.
