GMO Internet Group, a Tokyo-based IT giant is making every possible effort in order to establish itself as a leader in the cryptocurrency mining business. Almost a year back in September 2017, the company announced its plans to bring to the market a Bitcoin mining device based on 7nm chips and the company now looks all set for its launch.
On Wednesday, May 23, the GMO Group announced that the company is all set to launch its own high-performance computer for mining – GMO miner B2 – in the market next month on June 6, 2018. In its official announcement, the company said:
We will mass-produce the world’s first mining machine equipped with a cutting-edge 7 nm* process based semiconductor chip (7 nm mining chip; “GMO 72b”), which will be shipped at the end of October 2018
Last year in September 2017, the company had pumped nearly $320 million in the research and development of the new ASIC processor. In less than a year’s time, the company is out with its product and this reflects towards the commitment of GMO in order to grow its crypto mining business.
On the launch day itself, the company will be having an information session for potential customers willing to purchase the B2 miner. At the launch, the company will be unveiling further details of performance and pricing of the miner. The GMO miner B2 is expected to deliver high-levels of hashing power with lower electricity demands.
Last year in December 2017, the GMO Group announced the expansion plans for its cryptocurrency mining business by developing new facilities in Northern Europe. At that time, the company said: “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.”
During the same time, the company had also announced that it will be paying all of its employee’s salary in Bitcoin. The company said: “GMO Internet Group has decided to introduce a system that allows part of the salary’s payment to be received by Bitcoin in order to promote ownership of the employees’ virtual currency.”
A fresh report released earlier this month showed that the firm has already mined 906 bitcoin and 537 bitcoin cash by April 2018. Note that GMO is not the lone player in the race of the producing advanced mining chips for the Bitcoin mining industry. Earlier this year in February, a report arrived which said that Korean tech giant Samsung is also starting the “risk production” of 7nm chips in 2018.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.