Japanese GMO Internet to Release the World’s First 7nm Bitcoin Mining Device
The Japanese giant GMO Internet is preparing to release the first BTC mining device in the world that operates on 7nm chips.
The announcement was made on 23 May through GMO‘s website. According to it, the product will be released on 6 June 2018, with a huge production to be delivered back to October.
The device will provide high-levels of hashpower
The process of product development was a long one, and the decision to finally launch it resulted after a long test period. The company announced its interest in developing an ASIC processor in September 2017. Since then, GMO Internet has been actively involved in the development of the future mining products.
Currently, it’s only known that the mining equipment will provide high-levels of hashpower per a lower amount of electricity used. Price information and other features will be available in June 2018. According to the Press Release, besides the company’s offering to other miners, GMO has announced it will fit the device into its mining centers.
“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,” wrote GMO.
$ 90 million were allocated for testing the market
The company has been remarked since last year, growing its business with fast steps. GMO has dedicated a $ 90 million budget to test and develop new products in crypto and mining space, including chip making and its own mining centers.
The mining centers owned by GMO began their operations in the fourth quarter of 2017. According to a company’s report, its mining equipment has collected 906 Bitcoin and 537 Bitcoin Cash in the last month. Information on the totals of the new mining device remains secret, while the value of mining rewards reaches $ 8 million.
GMO isn’t the only player in the Bitcoin mining market that plans to launch an innovative product. Samsung has also announced the launch of a “risk production” of 7nm chips in February 2018.
It’s also known that GMO was planning to sell its BTC mining equipment this year by organizing an ICO. According to personal sources of CoinDesk, the firm has confirmed that the idea is still available.