Japan's GMO invests $300 million in bitcoin mining
The Japanese telecommunications company GMO announced plans to invest in $300 million in the first half of 2018. Chips produced using 7 nanometer technology will be used to double the efficiency of digital mining.
GMO is the first company to really use 7nm chips, and will suddenly break away from the other miners that continue to use chips produced through a 16 nanometer process. Hardly anyone can withstand such competition and obviously other companies and farms will have to switch to 7 nm chips, and this will stimulate the faster development of technology in this area.
GMO will use chips with the latest technological process, which are much faster than current and consume significantly less energy. These factors increase the profitability of digital gold mining. In addition, the GMO intends to build one of its digital farms in northern Europe where there is a surplus of electricity.
Since 2008, a profit of over $ 2 billion has been generated. Only the rewards for blocks and commissions from the bitcoin transactions are taken into account in the calculations. The real profit is much higher, but so far it can not be accurately calculated.
