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Saturday, October 7, 2017

Crypto News: Japan’s Finance Industry Embraces Bitcoin Mining

Japan’s Finance Industry Embraces Bitcoin Mining

An Asia Nikkei article summarized: “Some of the middlemen that cryptocurrencies were designed to cut out are getting into the virtual mining business. With Japanese eagerly buying into bitcoin and similar currencies, SBI Holdings, GMO Internet and other online securities companies hope to turn mining into a new revenue source.”Japan's Finance Industry Embraces Bitcoin Mining

Kevin Helms, writing for, covered GMO’s foray into bitcoin mining last September when the company announced it. He said, “Japan’s leading internet conglomerate and bitcoin exchange operator GMO has announced that it is expanding into the businesses of bitcoin mining and chip manufacturing. The company revealed plans to produce and sell 7nm semiconductor chips and run a mining facility in Northern Europe.”

With greater adoption and usage occurring in the bitcoin ecosystem, the mining rewards for bitcoin are also becoming extremely lucrative. However, an individual or organization must have a lot of dedicated resources to get involved. Currently, large mining pools are a necessary prerequisite to generating massive revenue. Combined, miners across the world collect $7.84 million a day.

"According to Blockchain, a British startup, miners across the globe collectively make $7.84 million a day — 10 times more than two years ago."

Full story at

Source: Bitcoin News

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