Japanese internet giant GMO getting started with Bitcoin

GMO Internet, an internet giant from Japan, will contribute to Bitcoin’s infrastructure. In a publication of September 7, GMO announces that the board of directors has reached agreement to start a mining operation.

Because the market for mining equipment for bitcoins is controlled by only a few parties, GMO has decided to develop chips itself. At the moment, the most effective equipment contains 16 nm chips. GMO has started developing 7 nm chips, which will be four times more efficient than the current chips used in ASICs. In a presentation, GMO indicated that the chips will most likely go into production in April 2018.

For the development of the new hardware, the company sets aside at least 10% of its fixed assets. This amounts to a minimum investment of ???????25,250,000.

GMO is taking this step because the company believes that a ‘new universal currency’ could emerge from the recent emergence of Bitcoin. This currency would be free to spend for anyone anywhere in the world, creating a new borderless economic zone. By delving into Bitcoin now, people hope to gain enough knowledge to also contribute to future developments regarding Bitcoin.

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