GMO Internet, Japanese IT Giant, Releases First 7nm Bitcoin Miner

Cover image via U.Today

GMO Internet Group, Japan’s largest IT firm, announced plans to launch the first 7nm high-performance Bitcoin mining device next month.

GMO Internet, which spent nearly $320 mln developing the 7nm based semiconductor, stated that it would reveal exact performance details and pricing of the miner at its launch in Shibuya, Tokyo on June 6.

The company’s new mining device will deliver higher levels of hashing power under lower electricity demands and is expected to ship in October 2018, the company says.

The Tokyo-based firm, a leading provider of Internet services worldwide including the largest online FX trading platform, has been rapidly expanding into crypto mining space.

GMO has already mined 906 Bitcoin and 537 Bitcoin Cash since it announced plans to set-up operations in Northern Europe in December last year.

The company will be competing with Korea’s Samsung that also plans to release its “risk production” of 7nm chips this year.

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GMO Internet announced a token sale last year for the sales of next-generation mining boards. However, the company has not released any specific dates for the token sale yet.

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About the author

Urvashi Verma is a Chicago-based reporter who writes about the convergence of technology and business. She is interested in fintech, digital currencies, blockchain and currency markets. Urvashi formerly worked with the Times of Israel covering Israel's booming tech industry including Start-Up Nation, venture capital investment, and crowd-funding platforms.

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