$ 90 million Budget: Japan GMO revealed details of the encrypted currency mining plan


nnnLast week, the Japanese digital service company GMO announced that it will launch the encrypted currency mining business, on Wednesday, the company further revealed the details of the plan, and 90 million US dollars in budget support. It is reported that the company will begin in the spring of 2018 to test the new 7nm semiconductor chip, and in the first half of the official start mining business. At the same time, the Japanese electronics giant also announced that it will test its mining business in October, and may be completed by the end of 2017 fully operational.n
nnTranslation: Clovern
nJapanese digital services company GMO has announced a supplemental plan for its upcoming encryption currency mining business, as well as $ 90 million in budget support.n
nAccording to TechWave, the company announced its plan on Wednesday after announcing the plan last week. GMO was founded in the 1990s and now operates its own encrypted currency exchange. The company said it will open mining business in the first half of 2018 (mining is an energy-intensive process that adds new deals to the block chain through this process).n
nIn the show, GMO representatives said the company will begin testing the new 7nm semiconductor chip next spring. So far, from the demo version, we learned that GMO has invested 3 million yen in cost, while the estimated cost of 100 billion yen (about 90 million US dollars). It is reported that the initial capital is mainly used to start the chip development and the device itself research.n
nGMO announced last week that it would set up a data center in Scandinavia, as well as the use of the data center, which marks the first time that important Internet companies have entered the encrypted currency mining market.n
nGMO President Masatoshi Kumagai:n
nn”In addition to our own mining business within the company, we also plan to sell the mining board through the ‘cloud mining center’ to sell, so that anyone can participate in mining.n
nnBut GMO is not the only company in Japan to participate in encrypted currency mining. Japanese electrician giant DMM announced that it will also participate in this business. The company plans to begin testing in October and may be fully operational by the end of 2017.n

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