The mining operation of Japan’s internet giant GMO has resulted in over 900 bitcoins and 537 bitcoin cash so far, as the company roughly doubled its hashrate last month. Meanwhile, its crypto exchange reported a first-quarter loss after the country’s financial regulator ordered it to improve.
Also read:
Over 900 BTC Mined So Far
Japanese conglomerate GMO Internet released its cryptocurrency mining business report for April this week.
“We are currently mining bitcoin (BTC) and bitcoin cash (BCH),” GMO wrote. The company mined 373 BTC and 0 BCH in April. In March, it mined 295 BTC and 12 BCH and in February 124 BTC and 287 BCH. Overall, GMO has mined 906 BTC and 537 BCH so far since it began operation.
The group revealed that its “Hash rate rose due to the increase in the number of computers we are operating as planned.” In April, the hashrate was 241 PH/s, up from 129 PH/s in March, 108 PH/s in February, and 27 PH/s in January. The announcement details:
Hash rate is an important indicator for estimating our mining share. Our goal is to see the hashrate reach 3,000PH/s this year.
The company announced the launch of its mining business in September last year. In October, it outlined plans to launch an (ICO) for the sale of its “next-generation mining boards.” In January, GMO announced that it had in developing a 12nm ASIC mining chip.
GMO Coin’s Earnings Performance
GMO Coin is the cryptocurrency exchange subsidiary of GMO Internet. It is one of the 16 fully licensed crypto exchanges in Japan. The company has launched a service to allow customers to to the company as well as set up a to pay its employees in the digital currency.
However, the Financial Services Agency (FSA) has issued the exchange a business . The only other government-approved exchange to have received such an order is Tech Bureau which operates Zaif exchange.
GMO Financial Holdings recently released GMO Coin’s earnings report which shows an operating loss of 760 million yen (~US$7 million) in the first quarter of this year. The cost of operating the crypto business rose by about 560 million yen (~$5.1 million) for the group from the previous quarter.
What do you think of GMO’s mining operations and exchange? Let us know in the comments section below.
Images courtesy of Shutterstock and GMO Internet.
Need to calculate your bitcoin holdings? Check our section.
The post appeared first on .
Topics include:
— Blockchain technology, coding, scaling, programming, cryptocurrency, financial regulations, investing, trends, analysis, products and services and more!
About the Guests:
Adam Perlow (CEO of Zen Protocol) is a finance grad from the IDC, an Israeli army reservist, and an old hand in bitcoin. He’s known it was going places since the day he first heard about it, way back in 2011.
Ayesha Kiani is the Managing Director at Republic Crypto – A trusted presale token fundraising platform for all types of investors. She was previously at SingularDTV – A Consensys company. She’s a Venture Partner at NextGen Ventures and a Board Member for Ventures for America. She has a Bachelor’s in Finance from Stern, a JD from NYU Law School, and previously worked at Skadden. She likes House Music.
Ryan Andersen, (Kraken) Technology headhunter with a successful track record within financial, banking, high frequency trading, crypto and technology markets. My studies and early career path were technology based and now I apply that to the technical recruiting realm while staying current with trends in technology. Experienced as a consistent top producing agency recruiter and corporate recruiting. I have international experience and have adapted successfully in changing environments.
Maxwell Sanchez is Co-Founder and CTO of VeriBlock, a blockchain software development company. He is also the co-inventor of the Proof-of-Proof protocol which enables blockchains to inherit bitcoin’s computational security in a fully decentralized, transparent, trustless, and permissionless manner. Passionate about decentralized and trustless technologies since 2011, Maxwell has built remote miner management software, OpenCL/CUDA GPU miners, cloud services, cryptocurrencies, and more for the blockchain ecosystem. He is a lead developer of the three-year-old Curecoin project which rewards users for contributing idle computing resources to biomedical research, developed the first public blockchain testnet to use post-quantum cryptography, and actively works on alternative blockchain security and scalability solutions leveraging level-2 technologies.
Liz Wald (TORUS Alliance) has spent 20+ years building global marketplaces, with a career spanning the early days of AOL and Etsy, to the recent explosion of crowdfunding, to using innovative technologies and approaches to disrupt existing supply chains. Liz works with and/or advise a range of start-ups on strategy, fundraising and general operations. She is currently learning what she can about blockchain and tokens.
Bharath Rao, CEO and founder of Leverj Exchange, and other projects.
Russell Feldman, Chief Business Officer for Bond.One, a blockchain-based bond underwriting, distribution, and trading platform that will revolutionize the fixed income industry.
Rick Dudley (Vulcanize) has over 16 years of experience as a software developer and IT consultant. He specializes in decentralized peer to peer cryptosystems and smart contracts. He has built systems that have remained in production without maintenance for decades.
Konstantin Richter, CEO/Co-Founder of Blockdaemon, highly creative and inspirational business leader. Fund-Raiser. CEO Trainer. Recognized for building and scaling business strategies around value enhancing narratives. Excited to help companies building data solutions around decentralization, identity and one-workflow-universes. Expertise in blockchain, genomics, rich-media and IoT.
More Info:
|
Friends and Sponsors of the Show:
