GMO is the Japanese internet giant. The group released its first quarter results for the 2018 fiscal year last week. The company has plans to manufacture and sell its 7nm bitcoin mining chips, and they presented it at the earning results presentation.
There will be two versions of the chip: V1 and V2.V1 is the original version of the 7nm mining chip, and V2 is has been modified for mass production of the 7nm mining chips. The company’s plan is to host its own mining operations then sell it to the public and use in cloud mining.
V2 is in the process of designation and will enter the mass production phase later this year, precisely in the fourth quarter of this year.
GMO adjusted its plans by revising the mining business plans form the fourth quarter of last year. The company indicated in its presentation that its mining operations were initially “based on store-bought mining computers”, and in roughly June the “7nm (V1) operation “will commence and in approximately October the “7nm (V2) operation” will be underway.
The company spokesperson told news.Bitcoin.com, concerning the sale of its 7nm bitcoin mining chip that: “ We can disclose that accepting reservation will start from Q2 onwards and launch will be Q4 onwards only at this moment.”
The sales dates have not been specified yet, and the company’s cloud mining operation is to be launched in June.
The mining business which was launched on December 20 through GMO’s European legal entity is made of three areas: “ In-house mining;  Develop, manufacture, and sell mining machines; [and 3] Cloud mining.”
According to GMO, “Hash rate is increasing as planned. Amount of mined bitcoin is increasing as expected.” The company adds that it has “new businesses at multiple locations in 2 countries,” and they are confident, despite the actual hash rate of 241 PH/s that they will react their target harsh rate of 3,000 PH/s by the end of the year.