Japanese Internet giant GMO officially opened Bitcoin Mining Business
GMO Internet Group, Japan’s largest Internet giant, officially entered the bitcoin mining industry. By the middle of the year, GMO announced plans to use 7-nanometer chips for bitcoin mining business, Internet services and online securities trading companies. GMO also revealed that it plans to produce a PC ASIC mining card used and sold to the public. The new GMO bitcoin mining (mining data center) in Scandinavia in Northern Europe is in full operation.
In September of this year, Masatoshi Kumagai, chairman, and president of the GMO Group said the mine will be located in Scandinavia (Scandinavia) in Northern Europe and will be officially opened in December this year and testing and operation of the existing Semiconductor mining chips. GMO explained that the area provides clean and cheap electricity. GMO plans to invest 10 billion yen to develop 7-nanometer, 5-nanometer, and 3.5-nanometer chips, as well as to set up and operate a mining data center. ASIC mining plans developed by GMO plan to compete with Bitmain technology-related hardware products, which currently account for over 30% of the Bitcoin network. GMO also promised to use green renewable energy for Bitcoin mining.