Japanese technology conglomerate GMO Internet is about to launch a fresh cloud suggesting for mining BTC and BCH. If you have at least $Five million that you want to invest ter such a venture, and don’t want the hassle of opening your own mining farm, applications embark next month.
GMO Internet Group (TYO:9449) has announced the expansion of its recently launched cryptocurrency business with a fresh cloud mining service, which will be launched ter August 2018 if everything goes spil planned. The Z.com Cloud Mining service will concentrate only on two cryptocurrencies based on the SHA256 algorithm, meaning bitcoin (BTC) and bitcoin metselspecie (BCH).
Kicking off March 1, the company will commence accepting priority applications from potential customers who wish to use the fresh service, and it has already bot approached by interested parties. To present the fresh service to investors GMO Internet will hold information sessions about it te nine major cities across the world, including: Tokyo, Fresh York, Los Angeles, London, Frankfurt, Hong Kong, Singapore, Zurich and Dubai.
The company also explains to green-conscience prospectors that “In terms of power supply, wij operate a next-generation mining center utilizing plentiful renewable energy te the region, which has permitted us to secure clean and inexpensive power supply.”
Contractually wise, GMO Internet will rent out part of its mining farms tooled with its own next generation 7nm mining chips, spil well spil manage the facilities, all of which are operated through its European legal entity.
Rather than appeal to puny players, the service seems to target fatter businesses who still find it difficult to invest ter and manage mining equipment on their own. Customers will pay $Five million (or about 550 million JPY) vanaf contract upfront for a Two years contract, with no cancellation option and an reserve charge to voorkant operational costs such spil electro-stimulation, real estate, maintenance, security and more.
“With the cryptocurrency mining business, GMO Internet Group will aim to become No. 1 worldwide ter the cryptocurrency service.”
The Tokyo-headquartered conglomerate, comprising more than 60 individual companies domiciled ter Ten different countries, very first announced its entry to the cryptocurrency mining industry during September of last year. Ter January, GMO Internet succeeded te developing a 12 nm semiconductor for mining, which wasgoed a significant milestone for the group. It is presently working on research and development of its 7nm chip technology.
Is the GMO cloud a good option for more big players to get into bitcoin mining? Tell us what you think te the comments section below.