GMO Boosts Its Own Bitcoin Mining Output
GMO, Japan’s internet giant, has just released its mining report for June. The report states that the company has mined 1,906 BTC and 636 BCH since it began mining operation last year December. In June, 528 BTC and 62 BCH were mined.
GMO’s monthly BTC output from December last year to May this year was respectively 21, 93, 124, 295, 373 and 472 BTC. Its BCH output was 213, 25, 287, 12, 0,37, 62, respectively. GMO did not mine any BCH in April.
“We will decide the [mining] ratio, BCH or BTC, depending on the market environment,” a GMO spokesperson told news.Bitcoin.com, as part of their future plan.
From December 2017 to May this year, the hash rate of GMO’s mining operation grew from 22 PH/s to 299 PH/s and 384 PH/s in June. The company wrote, “Hash rate rose due to the increase in the number of computers we are operating as planned.”
The company’s expectation about the hash rate for its mining pool is to get to 3,000 PH/s by the end of the year.
Last year December marks the start date for GMO Internet’ mining operations. The company has divided its mining business into three groups: in-house mining; cloud mining and the development, manufacture, and sale of mining machines.
The company launched its first line of 7nm mining rigs last month: GMO miner B2. The rigs were rapidly sold out at a price of $1,999 per unit, according to the report from the company. The B2 miner was upgraded and gave birth to the GMO miner B3 which was launched, and according to the company, has a maximum hash power of 33 TH/s. shipping for both models will begin in November.
GMO first-quarter results presentation reveals that it started using an undisclosed number of 7 nm mining rigs in its own mining operation last month; revelation that was later confirmed by the GMO spokesperson to news.Bitcoin.com: “ We do use 7 nm rigs in our mining operation _ [But] it is an old type that we don’t sell to the market.”
The company plans to start using mass-produced 7 nm equipment for its own in-house and cloud mining businesses in October.
The spokesperson noted that already existing mining rigs will not be replaced, as he clarified that they will use GMO miner B3 in October.