japans gmo internet group plans a 3 million investment in bitcoin mining quartz make a hash of it a tokyo-listed company is spending over 3 million to get into bitcoin mining aurelien foucault.
Gmo internet group announced monday the launch of its new model of 7nm bitcoin mining rig, gmo miner b3. As with its predecessor, gmo miner b2, the new model uses the mining asic of the 7nm process gmo72b which supports cryptocurrency mining of sha256 and can execute mining of bitcoin and bitcoin cash.
Why gmo had to close the bitcoin miner production business? According to the press release that was issued on the christmas day, japans gmo group announced that the board of directors of the company have resolved to post an extraordinary loss in the cryptocurrency mining business for the fourth quarter (october 1, 2018, to december 31, 2018) of the fiscal year ending december 2018.
Gmo internet group comprehensively develops internet infrastructure, online advertising & media, internet finance, and cryptoassets (cryptocurrency) businesses.
Gmo indicated it would spend 3 million usd to begin bitcoin mining in 2018. The groups entry into the crypto mining business will have many proponents that are apprehensive about bitmain technologies dominance bitmain currently produces the most efficient bitcoin miner in the mining industry.
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