New mining chips attracted $320 million investment
13 September 2017
13 September 2017
GMO Internet Group, a large corporation based in Tokyo, declared its investment plan: the company will place $320 million in the development of next-generation mining microchips. The company believes in the Bitcoin's huge potential that is a reason for such their decision.
The company's representatives stated that Bitcoin would shortly become a "universal currency" granting its owners with "unlimited economic freedoms".
Therefore, GMO Internet Group, an Internet giant and an owner of many blockchain projects, is currently planning to develop its own chips providing the highest efficiency for Bitcoin mining. It is said that this promising new 7-NM technology (7 nanometers) is going to be of a higher frequency and a less energy consumption. Today, mining and other complex computer processes are using 16-NM processors that are four times less efficient.
According to a director of RSK Labs, Diego Gutiérrez Zaldívar, new processors will found a fresh generation of miners.
GMO Internet Group plans to use the innovation itself by deploying powerful mining farms in the northern Europe. On this issue, they are up to reserve 50,000 chips for this purpose. The calculations show that a farm of this scale, based on the 7-NM processor, will achieve 500 PH/S of capacity. In the example of other large miners, GMO Internet Group plans to lease a part of their capacity.
The company seeks to become a market leader and to steel competitive edge of such a giant as Bitman. Concurrently, the company's management is aware that other companies, which may be releasing new products to the market at almost the same time, are already doing the development of 7-NM processors.
December 7, 2017
St George`S Bay, St Julians
Malta will become the hub of the fintech industry in Europe!
Three intensive conference sections:
• Blockchain solutions in practice
• ICO trends
• Panel discussion: Legal and Regulatory Challenges in Blockchain
Our participants are entrepreneurs and experts in legislation, blockchain developers, investors, startup founders, bitcoin enthusiasts, financial specialists and bankers, lawyers, representatives of payment systems.
Why you should attend:
• 20 Top-notch Speakers and many industry experts;
• extensive business program of the Conference;
• 3 intensive conference sections;
• best well-known Sponsors;
• more than 16 outstanding Exhibitors
We will be glad to see everyone at Blockchain & Bitcoin Conference Malta 2017!
Meet new speakers and key news of the conference