GMO Internet to Launch a Cloud Mining Service

Japanese internet and technology company, GMO Internet announced its plans to launch cloud mining service in August
13 February 2018   857

The Tokyo-based conglomerate was founded in the early 1990s. In September it invested a huge sum of money into a new mining venture. GMO Internet entered the cloud mining space to enable customers to rent its mining equipment’ hashrate.

GMO Internet’s new cryptocurrency mining business today has announced its new cloud mining service Cloud Mining. It will be launched approximately in August 2018.

Starting from March 1, 2018, the company will start accepting priority applications for customers who wish to use this new service. In order to whet customer’s interest, the company will hold information sessions in 9 cities across the world. The sessions will take place in Tokyo, New York, Los Angeles, London, Frankfurt, Hong Kong, Singapore, Zurich, Dubai.

The Cloud Mining service allows businesses to participate in crypto mining. The service will be renting out part of its mining facilities fully equipped with original next-generation 7nm mining chips.

A two-year rental contract for $5 million with no cancellation policy. The operation fee will include power costs, land, maintenance and security costs over the two-year period for the facility. The service will support cryptocurrencies mined on the SHA256 algorithm.

SEC to Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   134

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.