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

Japanese web giant GMO has updated its plans to manufacture and promote its 7nm bitcoin mining chips as nicely as for its very own mining operations. Interested customers will quickly be in a position to reserve some of these chips.

GMO Readies 7nm Mining Chips

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

GMO is building two variations of the chip, dubbed V1 and V2. The former is the preliminary prototype of the 7nm mining chip. The latter is for mass manufacturing of the 7nm mining chips, which the corporation plans to use in-house for its personal mining operations, promote to the public, and use in cloud mining.

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

Sale of 7nm Chips Starting Soon

In its presentation, GMO has revised its mining enterprise plans from the fourth quarter of ultimate year. The agency now indicates that its mining operations are in the beginning “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 organization spokesperson told: We can disclose that accepting reservation will start from Q2 onwards and launch will be Q4 onwards solely at this moment.

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

GMO’s Mining Business

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

GMO says “Hash fee is increasing as planned. Amount of mined bitcoin is increasing as expected.” The organization added that it has “new groups at more than one places in 2 countries,” noting that its hashrate in April was 241 PH/s however is confident that it will reach the target hashrate of 3,000 PH/s by using the year’s end.

In addition to its mining business, GMO additionally operates a crypto trade called GMO Coin and plans to launch a crypto fee service. The company goals “to end up No. 1 in the area of cryptocurrency.”

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