News

Be aware of all developments relating to cryptocurrency, track trends and rates ups and downs, learn all about Mining and complexities of the Bitcoin system and be sure you will be aware of the most urgent and important news of World Mining company.
"The World - that is, information that grows over time."
"He who owns the information, owns the world."

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

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

Thai SEC: Only Seven Crypto Firms Authorized to Legally Operate in Thailand
Thai SEC: Only Seven Crypto Firms Authorized to Legally Operate in Thailand

The Thai Securities and Exchange Commission (SEC) has announced the names of seven cryptocurrency firms that have been authorized to legally operate in the country. Five of them are crypto exchanges; two are cryptocurrency dealers. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Seve...

16.08.2018, 06:25Read more
Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack
Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack

The cryptocurrency investor Michael Terpin is suing the large telecom firm AT&T because his mobile phone was compromised by hackers who stole $24M USD worth of digital assets. Terpin says he was hacked twice in less than a year and employees at AT&T participated in a SIM swap fraud. Also rea...

16.08.2018, 04:25Read more
Five Benefits to a Bear Market
Five Benefits to a Bear Market

We’ve been in a slump for a while now, and by the looks of it will remain in one for a good while longer. How long, how low, and how slow the recovery is anyone’s guess. If you’re reading these words, you’re still here, and thus it’s safe to assume you’re in this for the […] The post Five Bene...

16.08.2018, 02:05Read more
BountyCryptocurrencies
Video