GMO Internet to open mining facilities in Europe

Renewable energy resources of Northern Europe will allow to decrease power consumption for GMO Internet mining centres
20 December 2017   933

The Japanese giant GMO Internet announced its intention to take the leading positions in the sphere of mining of crypto-currency. Separate office will be opened in Northern Europe. This is reported on the official website of the company.

According to the publication, GMO Internet has already involved in its project a mining center that uses renewable energy resources of Northern Europe, which allows cutting costs through low energy consumption.

GMO Internet Mining Centre
GMO Internet Mining Centre

As the capacity accumulates, the company also plans to offer cloud solutions in the field of mining and sales of related equipment.

Through test operation using current technology, we confirmed that a certain level of profitability could be secured, and therefore GMO Internet officially decided to launch the cryptocurrency mining business.

GMO Internet

In its activity, the company intends to use the latest 7 nm * 1 chips and is currently working with partners in the field of semiconductors in research and development of high-performance computing graphics adapters.

It is expected that GMO Internet will begin cryptocurrency mining in the first half of 2018.

Mining Firms to Make Chinese Unicorn List for First Time

"Unicorns" are private companies valued at over $1 000 000 000
19 July 2018   161

The Shanghai Hurun Research Institute has published a list of unicorn companies in Greater China (China, Hong Kong, Macao and Taiwan), which for the first time included representatives of the cryptocurrency industry. Thus, the list of major figure-makers in the list of major equipment Bitmain, Canaan Creative and Ebang. This is reported by Coindesk.

It is noteworthy that Bitmain took the 13th place with a capitalization of 70 billion yuan ($ 10.4 billion). Canaan was awarded with 32nd place with a capitalization of $ 3 billion, and Ebang closed the trio on 53rd place with a value of $ 1.5 billion.

Note that the media has already reported that all three companies intend to hold an IPO on the Hong Kong Stock Exchange (HKEX).

In May, the relevant application was filed by Canaan, and in July, followed by Ebang Communication. Jihan Wu previously stated that his company also considers the jurisdiction of Hong Kong, and potential investors may be Sequoia Capital and IDG Capital.