íàçâàíèå

Japanese Conglomerate GMO Mined Over 200 Bitcoins In 2018 So Far


GMO Internet has released a monthly report on its mining business for February 2018, revealing that the company has mined over 200 bitcoins during this year so far. GMO has also mined over 300 Bitcoin Cash during 2018.


GMO Internet Mined $1.8 Million Worth of BTC and BCH in February

Japanese Conglomerate GMO Mined Over 200 Bitcoins In 2018 So FarMajor Japanese conglomerate, GMO Internet, has released a report detailing the performance of its mining business. GMO Internet first announced its desire to start mining BTC and BCH during September 2017, before launching operations in December of the same year.

In December 2017, GMO mined 21 BTC and 213 BCH – then valued at approximately $15,850 and $2,715 USD respectively. In January 2018, GMO mined 93 BTC and 25 BCH – then valued at roughly $10,300 and $1,500 each. GMO reported a hash rate of 22 penta hashes per second (PH/s) during December, and 27 PH/s during January.

During February, GMO increased the scale of its mining operations, with GMO reporting a hash rate of 108 PH/s following the employment of additional hardware. GMO mined 124 BTC and 287 BCH during February 2018 – valued by GMO at approximately $10,670 and $1,240 respectively.


GMO to Expand Mining Business

The report states that GMO Internet’s “goal is to see the hash rate reach 3,000 PH/s this year,” indicating the company’s intention to soon comprise a major player within the bitcoin mining industry.

If successful, a hash rate of 3,000 PH/s would give GMO comparable power to that of Viabtc’s mining pool. According to Blockchain.info, Viabtc currently comprises the third largest bitcoin mining pool, accounting for 12.9% of the BTC mining network with approximately 3,390 PH/s as of this writing.

Last month, GMO Internet also announced its intention to launch a cloud mining service in August 2018. The company started accepting priority applications from prospective customers on March 1st. GMO appears to be targeting customers with deep pockets – as a single two-year contract is estimated to cost roughly $5 million (550 million JPY) each, excluding maintenance expenses.


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.  

08.03.2018 / 09:34 81
Monthly Report of GMO Internet and Its Cryptocurrency Mining Business Published Monthly Report of GMO Internet and Its
GMO Internet Inc., a major Japanese company investing in Internet-related businesses and listed on the first Section of the Tokyo Stock Exchange, has
Domains Running Cryptocurrency Mining Scripts Surge 725 Percent Domains Running Cryptocurrency Mining
The number of domains with cryptocurrency mining scripts installed has skyrocketed 725 percent in four months, according to a security firm’s
Mt Gox Trustee Sells $400 Million in Bitcoin and Bitcoin Cash Mt Gox Trustee Sells $400 Million in
As much as $400 million in cryptocurrencies was sold in the past few months by the bankruptcy trustee of the now-defunct Japanese bitcoin exchange Mt
GMO Has Mined Millions of Dollars in Bitcoin Already GMO Has Mined Millions of Dollars in
The cryptocurrency mine launched by Japanese IT firm GMO Internet has generated more than $3 million in revenue over the past three months. According
Grand Theft Rigs: Icelandic Police Search for 600 Stolen Bitcoin Miners Grand Theft Rigs: Icelandic Police
Following a series of thefts involving hundreds of bitcoin miners, Icelandic police are investigating what is reportedly the biggest thieving spree
Louisiana Officials Probe Staffers for Bitcoin Mining Louisiana Officials Probe Staffers for
The attorney general of the U.S. state of Louisiana is reportedly investigating a group of former staffers for using official resources to mine
Comments (0)
Add a comment
Comment on