GMO Invests $ 300 Million In Bitcoin Mining

The Japanese telecommunications company GMO announced its plans to invest $ 300 million in the first half of 2018 for Bitcoin mining. Chips produced using 7-nanometer technology will be used to double the efficiency of the process.

GMO is the first company to really use 7nm chips and will break away from the other miners who continue to use chips produced through a 16-nanometer​ process. Hardly anyone can withstand such competition and obviously, ​other companies and mining farms will have to switch to 7 nm chips, stimulating the technological development of in this area. The company will use chips with the latest technological process, which are much faster than current and consume significantly less energy. These factors increase the profitability of the mining process. In addition, GMO intends to build one of its digital farms in northern Europe where there is a surplus of electricity.