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   1226

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 Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   98

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.