Bitcoin
$3,256.93 0.67%
BTC · 65w

GMO to Invest 10 Billion Yen in Its Own 7nm, 5nm and 3.5nm Dedicated Bitcoin Chips

Mining

More details on the Japanese Internet Giant GMO’s plans to enter the Bitcoin mining market have been released. The company has revealed the hardware and performance specifications for its upcoming 7nm process ASIC mining chips which feature very low power consumption requirements. GMO also divulged its plans to produce and sell PC-ready ASIC mining cards to consumers.

Also read: Japan’s Internet Giant GMO Launching Bitcoin Mining with 7nm Chips

Mining Farm in Scandinavia GMO Group President Masatoshi Kumagai.

At a press conference on Wednesday, Japan’s GMO Internet, Inc. unveiled the details of its new mining operation and the highly anticipated 7nm ASIC chips. News.Bitcoin.com reported on the company’s announcement last week.

The company initially announced that the data center will be in Northern Europe. At the press conference on Wednesday, the chairman of GMO Internet and group president Masatoshi Kumagai further revealed that it will be in Scandinavia. The center will be installed in December this year to start testing and operating using existing semiconductor chips, Techwave reported. The area offers clean and cheap electricity, GMO noted.

¥10 Billion & 7nm, 5nm, and 3.5nm Chips

GMO also disclosed the total investment is expected to be approximately 10 billion yen or roughly $90 million. This cost includes the establishment and operation of the data center as well as the R&D for a series of mining chips. Kumagai was quoted saying:

We are planning to invest 1...
Continue on news.bitcoin.com
Recent news
BTC +0.67% · google.com · 2h

Bitcoin no longer profitable to mine.

To add further misery to bitcoin enthusiasts, the act of finding or “mining” the cryptocurrency has become unprofitable as the price continues to...
10
BTC +0.67% · medium.com · 2h

Understanding a Raw Bitcoin Transaction

I wrote some code that outlines how to create a transaction from scratch. First I want to explain the concepts I found difficult to grasp, and the information that took me a while to find. Then I…
BTC +0.67% · twitter.com · 10h

So much for B-trash...

Meanwhile over at r/btcRoger lying about buying more bcash to try and sustain price while he's dumping. Not even his own echo chamber believes him anymore. pic.twitter.com/AVxilkW9K5— hodlonaut🌮⚡🏴[J...