What was still in the project phase is now well underway: the internet giant has just confirmed its bitcoin mining activity.
The mine will be based in Europe
We knew that the leaders of GMO appreciated cryptocurrencies. This seems to be confirmed since the Japanese company has decided to embark on bitcoin mining and has even just officially launched the project based in Northern Europe.
In an advertisement, GMO Internet explains:
“The company is launching its mining center using abundant renewable energy in Northern Europe, which enable us to reduce energy consumption. We are currently developing high-performance computers for mining with our alliance partner who has semiconductor design technology."
Start-up in 2018
In the same press release, we read as well:
“Thanks to a functional test using current technology, we confirm that a certain level of profitability could be guaranteed, and therefore, GMO Internet has officially decided to launch into cryptocurrencies mining."
However, the actual mining will not start until the first half of 2018, and the company will use next-generation graphics cards based on 7 nanometer chips to reach its target. Moreover, the Japanese company did not reveal certain details, such as the exact location of its European mining center.
GMO wants to go even further
This new bitcoin-related activity proves once again GMO's great interest in crypto, which for it will become the new universal currency. The Japanese firm began by promoting digital currencies internally, offering its employees to receive their salaries in bitcoin.
GMO Internet does not think it will stop there because, in addition to mining, it is also planning to set up its own cloud computing service, as well as selling next-gen mining cards.