GMO Ventures Into Bitcoin Mining
In a significantly bold move, Japanese internet giant GMO has decided to dip its toes into the murky waters of Bitcoin mining. The company has disclosed its plans to establish a mining business aiming to capture around six percent of the Bitcoin market by 2018. Talk about ambition!
Big Plans with Big Chips
With a hefty investment topping ¥3.489 billion (approximately $32 million), GMO is not playing around. They plan to deploy a whopping 50,000 cutting-edge seven nm chips that promise to deliver a mind-boggling 500 petahashes per second. That’s enough power to make even the most hardened techie raise an eyebrow!
The Green Energy Angle
GMO’s plans include not only high-powered chips but also an emphasis on sustainability. They intend to leverage renewable energy sources at their mining center located in Northern Europe. It’s like they’re saying, “Hey, let’s be eco-friendly while making a boatload of cash!” Not too shabby, right?
Cutting-Edge Technology Collaboration
To ensure they remain on the bleeding edge of technology, GMO will collaborate with partners to research and manufacture these ASIC chips. This commitment highlights the company’s strategic move to enhance its technological prowess in this rapidly evolving landscape.
The Broader Cryptocurrency Vision
But wait, there’s more! GMO’s aspirations extend beyond just mining. They plan to use the coins they earn to boost liquidity in their exchange, launch a cloud mining business, and even sell next-generation mining boards. It’s clear they have a comprehensive approach to entering this digitally-driven era.
Japan’s Growing Crypto Scene
As Japan embraces the cryptocurrency wave, GMO is riding high on the marketing push, partnering across various sectors to facilitate wider merchant acceptance of Bitcoin. They want to establish a ‘new borderless economic zone’ where cryptocurrencies can flow freely. Just think of it as opening a global supermarket for digital currency!
In Summary
As GMO gears up for its entry into Bitcoin mining, the company’s plans reveal a blend of innovation and sustainability. With their sights set on a six percent market share, they may just usher in a new era, not just for themselves, but for the entire cryptocurrency market.
