Kevin Helms: Japan’s GMO Gets Ready to Start Selling 7nm Bitcoin Mining Chips

virtual-currency selling sale operations n-technology mining-chips mining miner japanese japan gmo-internet gmo-coin gmo digital-currency cryptocurrency crypto cloud-mining btc bitcoin asic 7nm

Japan's GMO Gets Ready to Start Selling 7nm Bitcoin Mining Chips

Japanese internet giant GMO has updated its plans to manufacture and sell its 7nm bitcoin mining chips as well as for its own mining operations. Interested customers will soon be able to reserve some of these chips.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

GMO Readies 7nm Mining Chips

Japanese conglomerate GMO Internet Group published its first quarter results for the fiscal year 2018 last week. During the earnings results presentation, the company outlined its plans for the sale of its long-awaited 7nm bitcoin mining chips.

Japan's GMO Gets Ready to Start Selling 7nm Bitcoin Mining ChipsGMO is building two versions of the chip, dubbed V1 and V2. The former is the initial prototype of the 7nm mining chip. The latter is for mass production of the 7nm mining chips, which the company plans to use in-house for its own mining operations, sell to the public, and use in cloud mining.

V2 is now being designed and will enter the mass production phase in the fourth quarter of this year.

Sale of 7nm Chips Starting Soon

In its presentation, GMO has revised its mining business plans from the fourth quarter of last year. The company now indicates that its mining operations are initially “based on store-bought mining computers,” and in roughly June the “7nm (V1) operation” will commence and in approximately October the “7nm (V2) operation” will be underway.

As for the sale of its 7nm bitcoin mining chips, the company spokesperson told news.Bitcoin.com:

We can disclose that accepting reservation will start from Q2 onwards and launch will be Q4 onwards only at this moment.

The actual sale dates are not specified. Furthermore, the company says its cloud mining operation will be launched in June.

Japan's GMO Gets Ready to Start Selling 7nm Bitcoin Mining Chips

GMO’s Mining Business

The mining business was launched on December 20 through GMO’s European legal entity. It comprises three areas: “[1] In-house mining; [2] Develop, manufacture, and sell mining machines; [and 3] Cloud mining.”

GMO says “Hash rate is increasing as planned. Amount of mined bitcoin is increasing as expected.” The company added that it has “new businesses at multiple locations in 2 countries,” noting that its hashrate in April was 241 PH/s but is confident that it will reach the target hashrate of 3,000 PH/s by the year’s end.

Japan's GMO Gets Ready to Start Selling 7nm Bitcoin Mining Chips

In addition to its mining business, GMO also operates a crypto exchange called GMO Coin and plans to launch a crypto payment service. The company aims “to become No. 1 in the field of cryptocurrency.”

Do you want to buy GMO’s 7nm chips? Let us know in the comments section below.

Images courtesy of Shutterstock and GMO Internet.

Need to calculate your bitcoin holdings? Check our tools section.

The post Japan’s GMO Gets Ready to Start Selling 7nm Bitcoin Mining Chips appeared first on Bitcoin News.

Original article was created by: Kevin Helms at news.bitcoin.com

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.

Interested in Cryptocurrencies and ICO's?

Follow our telegram channel for daily cryptomarket reports!

Join @cointrends

Related Articles

pubDate Newsline
53 minutes ago A world where cryptoassets are securities
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
8 hours ago Three Hackers Held in China Over $87 million Crypto Theft
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
8 hours ago Three Hackers Held in China Over $87 million Crypto Theft
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
8 hours ago Three Hackers Held in China Over $87 million Crypto Theft
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
18 hours ago Prolific Bitcoin Dealer ‘Blew a Giant Hole’ Through US Legal Framework
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
6 days ago Japan’s Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
6 hours ago Second Hand Rigs Are Dumped as the Solo Mining Dream Dies
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
1 month ago Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin Miner
4 hours ago Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund
18 hours ago Prolific Bitcoin Dealer ‘Blew a Giant Hole’ Through US Legal Framework
6 hours ago Second Hand Rigs Are Dumped as the Solo Mining Dream Dies
5 days ago New Player to Offer Next Generation ASIC Chips This Year
6 hours ago Second Hand Rigs Are Dumped as the Solo Mining Dream Dies
10 hours ago SHA-256 Mining Hashrate Climbs Significantly in One Year
10 hours ago SHA-256 Mining Hashrate Climbs Significantly in One Year
1 week ago Canaan Unveils 7nm Chip Equipped Miner at Press Conference
2 days ago Norwegian Mining Company Receives Bomb Threat in Escalating Noise Complaint
3 weeks ago Rare: Bitcoin Mining Company Cleared of Wrongdoing by Regulator
2 days ago How a Tokyo FOMO Family Invested in Bitcoin and Lost
3 days ago Amateur Crypto Investors Caused the Burst, Japanese Expert Says
4 days ago Coinhive Mints Quarter Million Dollars in Monero a Month, Report Reveals
1 week ago Canaan Unveils 7nm Chip Equipped Miner at Press Conference
4 days ago |Stepan Leshchenkoアートディレクターインタビュー
6 days ago Japan’s Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold
5 days ago New Player to Offer Next Generation ASIC Chips This Year
6 days ago Japan’s Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold
6 days ago Japan’s Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold
3 weeks ago Bitflyer Cracks Down on Market Manipulation – Coincheck Eyes August Relaunch
2 weeks ago P2P Markets Report: Selling Drives Upswing in Emerging Markets’ Volume
3 weeks ago PR: Vaultbank to Bring Free Stock Trading with Margin, Top 20 Cryptos, 120+ Fiat Currencies
4 weeks ago Indian Central Bank Makes a Case Before Supreme Court Against Allowing Crypto Use
1 month ago Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs
2 months ago Regulations Round-Up: SEC “Underwhelmed” by Exchanges’ Reporting, Quebec Halts New Mining Operations Again

Stay on top of Altcoins and ICO trends.

Subscribe to our free Weekly Cryptomarket report

Delivered once a week, strongly to your inbox.

Subscribe to our mailing list
August 20, 2018

Japan Roundup: Public Companies Unveil New Mining Plan, Exchange, Token Fund

Three Japanese public companies have individually made announcements regarding their cryptocurrency operations. Forside has grown its mining operation with a plan to sell 7nm bitcoin mining rigs. Farsteps is planning a Singapore exchange launch. Meanwhile, Line Corp, the operator of...

From: Kevin Helms

Second Hand Rigs Are Dumped as the Solo Mining Dream Dies

In the summer of 2017, rising cryptocurrency prices led to a run on high performance graphics cards. Coveted cards with a high hashrate were snapped up like proverbial hot cakes, leaving gamers, scientific researchers, and anyone else who relied on flagship GPUs priced out as the cryptocurrency...

From: Kai Sedgwick
August 19, 2018

Three Hackers Held in China Over $87 million Crypto Theft

Three suspects have been detained by Chinese police in connection with an alleged cryptocurrency theft. The supposed hackers stole bitcoin and other digital assets worth an estimated $87 million USD. Authorities say this is the biggest heist of this type in the People’s Republic so far. Also...

From: Lubomir Tassev

SHA-256 Mining Hashrate Climbs Significantly in One Year

Over the last year, SHA-256 mining, the process that’s used to find blocks on both the Bitcoin Cash (BCH) and Bitcoin Core (BTC) networks, alongside a slew of other cryptocurrencies, has grown exponentially. Digital asset trading markets have been in a slump over the last eight months of 2018,...

From: Jamie Redman

India Bitconnect Head Arrested

Alleged India Bitconnect head, Divyesh Darji, was arrested this week at a airport in Delhi as he arrived from Dubai. He and conspirators are accused of bilking millions of dollars (Rs 88,000 crore) from Indian investors seeking to find financial refuge during the government’s demonetization...

From: C. Edward Kelso

44% of American Executives Think “Blockchain Is Overhyped”, Deloitte Survey Finds

New indicators point to corporate executives starting to wisen up to the notion that so-called blockchain technology is some kind of cure-all drug for their industries that they can just extract from Bitcoin and drop the cryptocurrency behind. The latest example of this is a recent survey by...

From: Avi Mizrahi
Upcoming ICO's
This week overview
Token Name Starts
RoBust Defense Token (RBDT) logo RoBust Defense Token (RBDT) Today
Rubius (RUBY) logo Rubius (RUBY) 1 days
Cryptocurrency rates
*Last hour average price&change
Coin Name Price Hour
Bitcoin logo BTC $6484.62553984 -0.14%
Ethereum logo ETH $301.395542734 0.59%
Ripple logo XRP $0.3425627987 0.3%
Bitcoin Cash logo BCH $566.15896452 0.36%
EOS logo EOS $5.2502430186 0.32%
Stellar logo XLM $0.2295310722 -0.11%
Litecoin logo LTC $57.6344392947 -0.05%
Tether logo USDT $1.0033344152 -0.09%
Cardano logo ADA $0.1007863595 0.03%
Monero logo XMR $99.8271185446 -0.21%
IOTA logo IOT $0.5347635733 0.78%
Tronix logo TRX $0.0220756582 -0.13%