Japan’s Internet Giant Could Control Six Percent Of Bitcoin Mining, Plans Next-Generation Center

Japanese Internet giant GMO has announced it will launch a Bitcoin mining business to corner around six percent of the market by 2018.

A disclosure which surfaced Thursday revealed plans to mine with 50,000 seven nm chips generating around 500 petahashes per second.

The initial cost to set up the project is “will be more than 10 percent of the consolidated noncurrent assets as of Dec. 31, 2016” of ¥3.489 bln ($32 mln).

“We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe,” a translated copy of the disclosure reads.

Full story at http://bit.ly/2xV1Rwf

Source: CoinTelegraph

 

 

 

Donation:
If you appreciate the things I share, consider making a contribution
no matter how small via PayPal or with TransferWise (EUR).
If you use Bitcoin you can send donations to my Bitcoin Wallet:
12pAsyMdZoTHPvkiRAZiuQhC8bF4DLbYpQ