GMO Internet is preparing to start sales of 7-nm chips for bitcoin mining.

GMO Internet is preparing to start sales of 7-nm chips for bitcoin mining.
Japanese conglomerate GMO Internet Group published a report on its performance for the first fiscal quarter of 2018 and detailed information on the plans for starting sales of 7-nm chips for the mining of crypto currency bitcoin. This is reported by Bitcoin.com.

GMO develops two versions of such chips - V1 and V2. The first of them is a prototype. The second version will become a full-fledged product, intended both for use on own equipment, and for sales in the global market, as well as for use in cloud mining services.

At present, work is actively being done on the V2 chip, the start of mass production is planned for the fourth quarter of this year. In its mining equipment, GMO plans to use the V1 chip in June, and around October the company will use V2 chips for bitcoin mining.

Also in the company noted that the launch of cloud services is planned in June. The following timeline shows the plans for GMO Internet Group:

Information about GMO's plans to invest $ 320 million in the mining industry and intentions to develop its own chips of a new generation appeared in early autumn of last year.

According to representatives of GMO Internet Group, the chips on the 7-nm technology are four times more energy efficient than the widely used 16-nm chips.

Also by the end of the year, GMO Internet Group plans to increase the mining capacity by more than 10 times.