GMO Internet Mining Power to Rise Significantly

The Japanese giant mined almost 2 000 000 USD in February
06 March 2018   200

In February, the Japanese conglomerate GMO Internet Group earned about $ 1.8 million with mining. In a month, the company produced 124 bitcoins and 287 Bitcoin Cash, reports Finance Magnates.

Compared to January, the productivity of GMO mining farms has grown significantly - then the company produced 93 BTC and 25 BCH. Thus, in February bitcoins were produced by 30% more, and the volume of received BCH grew more than 10 times.

It is noted that during the same period, the company's total hashrate increased from 27 to 108 PH / s, demonstrating a fourfold increase. According to GMO representatives, by the end of 2018 the organization plans to reach the level of 3000 PH / s.

For comparison, San Francisco company BitFury, which accounts for about 1.6% of the world's production capacity, mine a crypto currency with a frequency of about 295 PH / s. Thus, GMO Internet has already reached about a third of this hashrate in just two months.

Largest mining farm to be built in the UK

The well-known UK tech company Bladetec is building the first large Bitcoin mining farm in Europe
20 March 2018   192

Bladetec had already got an experience in IT support for NATO and the Ministry of Defence of the UK in the past. Today its idea is funded by investors in a limited company which is protected by UK law.

The facility - Third Bladetec Bitcoin Mining Company (TBBMC), situated on the Southeast of the country, is going to cover 3,500 square feet in three different places: in London, Suffolk and Surrey.

Today the company is raising £10 million from investors for building and operating the farm for up 2 years. The farm will become global and significant, also it is supposed to be introduced in the world`s top 25 and produce considerable return for shareholders (as a result of its dominant position).

The minimum investment to TBBMC project set by the company is £ 5,000 from each applicant. The project allows the capital growth up to even 45 % within a period of 2-3 years. The returns for the shareholders at that stage would be based on the Bitcoins sales`proceeds and the ASIC machines. If the price of Bitcoin does drop by 40 %, an investor may lose 22 % of his capital.

The company declared that it is going to mine 1,280 bitcoins within a period of two years. Nowadays it's difficult to predict how much those Bitcoins may be worth in two years. According to current prices, they will be valued at £ 7,8 million. But the situation may probably change before 2021. As for the raised funds, they would mostly be spent on the energy costs, despite the low energy bills' agreement between Bladetec company and the intended wind farm.

Bitcoin mining is more popular in the countries where the weather is cold (such as Iceland and China). The government of Iceland can implement a tax on mining because of the energy consumption. Chinese authorities insists on the ending of the cryptocurrency trading and mining in the country.