Japanese Giant GMO's Bitcoin Exchange and Mining Venture Lost ¥1.3 Billion in Bear 2018

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Japan-based GMO Internet Inc. (TYO: 9449) incurred an operating loss of ¥1.3 billion (~$11.75 million) in the fiscal year 2018. The IT company published its financial performance on Tuesday, saying that its cryptocurrency verticals, including a bitcoin exchange and mining business, posted circa $74.44 million worth of net sales. The report clarified that while its exchange business was able to...

GMO Had a Plan to Take Down Bitmain; Now It's Bidding Bitcoin Mining Goodbye

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More than a year after launching an in-house mining business, Japanese internet conglomerate GMO Internet has announced that it will no longer, develop, manufacture, or sell cryptocurrency mining equipment. In a statement, the Japanese tech firm disclosed that the decision was prompted by challenging business conditions which resulted in an "extraordinary" consolidated quarterly loss totaling 35...

Japanese Tech Firm GMO Releases ‘Free’ Zcash Mining Software

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Japanese tech firm GMO is expanding its nascent cryptocurrency mining operation beyond bitcoin through the release of a software client designed to mine zcash and other Equihash-based cryptocurrencies using general-purpose GPU chips. Japanese Firm Releases Zcash Mining Software Dubbed Cryptoknocker, the software has specifically been developed for mining rigs composed of Nvidia graphics cards...

Bitcoin Mining Giant Bitmain Unveils 'Next-Generation' 7nm Chip

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Bitmain, the world’s most valuable cryptocurrency company, isn’t ready to relinquish its position as the dominant manufacturer of bitcoin mining chips -- at least not yet. The China-based firm on Friday announced that it had developed a new 7nm application-specific integrated circuit (ASIC) mining chip for the SHA256 algorithm used by bitcoin, bitcoin cash, and many other cryptocurrencies...

Japanese Bitcoin Mining Firm GMO Stops Mining Bitcoin Cash

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GMO Internet, a leading Japanese bitcoin mining firm, has informed investors that it has stopped mining bitcoin cash, documents purportedly distributed by the company show. Those documents, made public by “The Bitcoin Knowledge Podcast” host Trace Mayer, indicate that the Tokyo-based GMO mined 0 BCH in July, down from a high of 287 in February. Why would GMO Internet switch all mining capacity to...

90% of Employees at Major Crypto Exchange Binance Receive Salary in BNB

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At the Liechtenstein Cryptoassets Exchange (LCX), Binance CEO Changpeng Zhao told TechCrunch founder Michael Arrington that 90 percent of the exchange’s employees receive their salaries in BNB. “Just one of the interesting things @cz_binance told me this week at LCX event: 90% of binance employees choose to receive their salary in BNB tokens. Smart people,” Arrington said on Twitter. Setting an...

Japanese Internet Giant GMO’s New Web Bank Will Use Blockchain for Payments

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Multi-billion-dollar Japanese tech conglomerate GMO has launched a new internet banking business that will use blockchain technology for faster and cheaper payments and financial services. In an announcement [PDF] on Tuesday, the GMO Internet Group confirmed the launch of the GMO Aozora Net Bank in partnership with Aozora Bank Group, a joint-initiative that has been in preparation since July 2016...

GMO Unveils Japan’s First-Ever Bitcoin Mining Rig


Tokyo-based tech services company GMO Internet has this week unveiled the first bitcoin mining rig wholly-developed by a Japanese company. In addition to being the first bitcoin mining device developed in Japan, the B2 is also the first miner to use 7nm semiconductor chips, enabling it to achieve performance and efficiency gains over devices that are already on the market. Bitmain’s Antminer S9...

Japanese Internet Giant GMO Plans Bitcoin, Bitcoin Cash Cloud Mining Launch in August


GMO Internet, a multi-billion publicly listed Japanese internet and technology conglomerate, has unveiled plans to launch its new bitcoin cloud mining service in August. Founded in the early 1990s, Tokyo-based GMO announced its foray into the cryptocurrency space in September with a multi-million-dollar investment into a new mining venture. Crypto mining sees miners gain newly minted coins as...

Multi-Billion Dollar Japanese Tech Conglomerate to Pay Employees in Bitcoin

GMO Bitcoin Payroll

GMO Internet Inc., a multi-billion dollar Japanese technology conglomerate, will process salaries of its 4,710 full-time employees in bitcoin. According to the official statement of GMO Internet, employees within the company and its subsidiaries will be able choose to receive their salaries in bitcoin with the newly integrated payroll system in the near future. “The GMO Internet Group has decided...

Japanese Internet Giant GMO to Spend over $3 Million for Bitcoin Mining Operation

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Japanese internet conglomerate GMO Internet Co., Ltd will invest over $3 million to launch its bitcoin mining operation in the first half of 2018. Founded in the early 1990s, Tokyo-based GMO is among a slew of major Japanese companies looking to capitalize on the booming demand and appetite for digital currencies. Recent legislative changes in Japan has seen bitcoin now recognized as a legal...

Japanese Internet Giant GMO is Launching a New Bitcoin Exchange

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Japanese internet conglomerate GMO Internet Co., Ltd is launching a bitcoin trading platform on May 24th. The internet giant is one of many Japanese companies looking to capitalize on booming demand for digital currencies in the world’s biggest bitcoin trading market. Recent legislative changes in Japan have led to an increasing appetite for bitcoin among investors and new adopters in the land of...

48,532 Japanese Merchants Can Accept Bitcoin in November with GMO


A few days ago, GMO Internet announced plans to allow GMO's 48,532 Japanese merchants to accept Bitcoin by November of this year. GMO Internet's payment solution, the GMO Payment Gateway, will soon have Bitcoin functionality alongside credit card and bank transfer options. BitFlyer was created by former Goldman Sachs trader Yuzo Kano in December of 2013, when he left his job to work with Bitcoin...