May 23 GMO Internet Group offers its new GMO miner B2, based on a 7-nm microprocessor chip. The company announced that a conference would be held for potential customers on June 6.

Miner GMO miner B2

In the statement, the following was said: “Cryptocurrency mining requires high-performance mining machines enabling highly sophisticated and intensive computation. Accordingly, GMO Internet Group has been working on research and development of a cutting-edge 7 nm mining chip since September 2017, and now realized its own high-performance mining machine GMO miner B2 equipped with 7 nm mining chip. Now that the mass production of GMO miner B2 is within reach, in addition to introducing some GMO miner B2 to the in-house mining,

“we will offer the others to potential customers who are planning to mine”

GMO miner B2 will be shipped at the end of October 2018.”

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The goal is to become a leader in the cryptocurrency sphere

The company started on December 20 through the European legal entity GMO. It includes three areas: 1. In-house mining; 2. Develop, manufacture, and sell mining machines; 3. Cloud mining.

GMO says:

“Hash rate is increasing as planned. Amount of mined bitcoin is increasing as expected”

The company added that it has “new businesses at multiple locations in 2 countries”, noting that its hash indicator in April was 241 PH/s, but I am confident that it will reach the target hashed of 3,000 PH/s by the end of the year.

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In addition to its mining business, GMO also operates a cryptocurrency exchange called GMO Coin and plans to launch a cryptocurrency payment service. The company seeks to “to become No. 1 in the field of cryptocurrency”.

Big plans

GMO is developing the ASIC 7-nm chip in collaboration with a partner with a semiconductor design technology. The project was first introduced in September. According to Masatoshi Kumagai, president of GMO Group, in the coming years, the company plans to invest 10 billion yen in mining, as well as research and development for 7-nm, 5-nm and 3.5-nm chips for mining.

In addition to managing the mining center in Northern Europe, the company will also launch a cloud-based mining business, and will also sell its mining platforms equipped with 7-nm chips for mining.

“Each card will be able to mine at a projected 8 terahashes per second or more with a power consumption of only 300 watts”

says Kumagai.

“It will be possible to reduce power consumption compared to the existing mining machines with the same performance, and achieve a computational performance of 10TH/s per chip,” GMO explained on Wednesday, adding that: “We will launch the mining based on ready-made mining computers by December 31, 2017, which will lead to the full-scale entry into the bitcoin mining business.”

“After the launch of the bitcoin mining business, we will also sell our own next-generation mining boards,” GMO said in a statement.

Last October, GMO announced the initial coin offering (ICO) for the sale of its 7-nm GMO miner B2 miners, but subsequently abandoned the idea.

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