GMO Internet is a multi-billion listed Japanese Internet and Technology Composite. Previously, it reveals its plan to launch its new cloud mining service in August. Currently, the mining activity of Japan’s internet giant GMO is issuing nearly 900 bitcoins and 537 bitcoin cash.
Hash rate doubled
Japanese composite GMO Internet launched its cryptocurrency mining business report for the month of April. The firm has made their hashrate last month.
The team conceded its “Hash rate rose due to the increase in the number of computers which are been operated as planned.” In the month of April, hashrate is 241 PH/s up from 129 PH/s for in the month of March, 108 PH/s for February and 27 PH/s in January. Concurrently, it is a crypto exchange which is reported at the first-quarter loss after the state’s financial regulator controlled for its enhancement.
GMO writes “We are currently mining Bitcoin (BTC) and Bitcoin Cash (BCH)”. The company mined 373 BTC and 0 BCH in April. For the month of March, it mined 295 BTC and 12 BCH. In the month of February GMO mined 124 BTC and 287 BCH. Globally, GMO has mined around 906 BTC and 537 BCH since the commencement of mining activity.
The announcement is as follows:-
Hash rate is an important indicator for estimating our mining share. The goal is achieved hashrate and reach 3,000PH/s this year.
In January, GMO declared to succeed in developing a 12 nm ASIC mining Chip. In October, it outlines plans to release an Initial Coin Offerings (ICO) for the sale of its next-generation mining boards. September last year, the firm announced the launch of its mining business.
Withal, the Financial Services Agency (FSA) is issuing the exchange a business improvement order. The government approved exchange is receiving an order for Tech Bureau which runs Zaif exchange.
GMO Financial Holdings launched GMO Coin’s earnings report. It displays an operating loss of 760 million yen -US$7 million in the first quarter of the year. GMO Coin is the cryptocurrency exchange subsidiary of GMO Internet.
GMO is planning to begin a bitcoin salary payment system for employees in the cryptocurrency. The cost of operating crypto business raised 560 million yen for the group from the previous quarter. It is a 16 fully licensed crypto exchange of Japan. The company is releasing a service to acquiesce customers and lend their bitcoins for the company.