GMO INTERNET'S BITCOIN MINING BUSINESS LAUNCHES TOKEN SALE (ICO) FOR THE SALES OF NEXT-GENERATION MINING BOARDS

TOKYO, Oct 25 (Bernama-GLOBE NEWSWIRE) -- GMO Internet’s (https://ir.gmo.jp/en/) Bitcoin mining business will launch a token sale (ICO) in 2018, the purpose of which is to sell next-generation mining boards. We will issue tokens as a method to buy next-generation mining boards.

GMO Internet’s Bitcoin mining business

Cryptocurrency (Bitcoin) mining business requires computers enabling highly sophisticated and intensive computation and also requires securing stable power supply to operate and cool the computers. Accordingly, GMO Internet is currently preparing to provide the following with an aim to enter the Bitcoin mining business.

1. We will use cutting-edge 7 nm process technology for chips to be used in the mining process, and are currently working on its research and development with our alliance partner having semiconductor design technology to realize high performance computer for mining. It will be possible to reduce power consumption compared to the existing mining machines with the same performance, and achieve a computational performance of 10TH/s per chip.
2. In terms of power supply, we will operate a next-generation mining center utilizing plentiful renewable energy in Northern Europe, and secure clean and inexpensive power supply, which will allow us to control the costs of operating facilities. After preparing the facilities, we will launch the mining based on ready-made mining computers by December 31, 2017, which will lead to the full-scale entry into the Bitcoin mining business.

After the launch of the Bitcoin mining business, we will also sell our own next-generation mining boards.

Launching token sale for the sales of next-generation mining boards

GMO Internet’s Bitcoin mining business will launch a token sale (ICO) in 2018, planning the sales of next-generation mining boards.

We will consider properly the laws and regulations that are applicable to us under the current legislation including Payment Services Act and the Financial Instrument and Exchange Act, and will be conscious of the protection of token purchasers and stakeholders’ profits when designing the token sale.

Press Inquiries
GMO Internet Group
Group Public / Investor Relations
TEL: +81-3-5456-2695
Email: pr@gmo.jp

Source : GMO Internet, Inc.

--BERNAMA