Japanese internet services company GMO Internet Group decided to place itself more firmly in the cryptocurrency market with the release of a new ASIC that might compete directly with Bitmain’s Antminers. The company has made plans to manufacture and sell 7nm Bitcoin mining chips and also plans to use it for its own bitcoin mining operations.
GMO has announced plans to produce and sell ASIC chips to consumers, including 7nm ASICs that emphasize
- low power consumption
- high hashrate
- decentralized mining,
So clearly, the company is confident about completing development of its 7nm chips sometime in the near future.
GMO Internet is headquartered in Tokyo, Japan and is listed in the first section of the Tokyo Stock Exchange and conducts internet-related business. The company said in its announcement.
“Cryptocurrency mining requires high-performance mining machines enabling highly sophisticated and intensive computation. Accordingly, GMO Internet Group has been working on research and development of a cutting-edge 7 nm mining chip since September 2017, and now realized its own high-performance mining machine GMO Miner B2 equipped with 7 nm mining chip,”
The company outlined its plans to sell 7nm Bitcoin Mining chips in its first-quarter results plan. The company is building 2 versions of the chip named V1 and V2.
- The first version is the prototype of the bitcoin mining chip, which the company plans to use for itself in mining operations and also sell to the public.
- V2 is entering early stage of development and will enter mass production later during the 4th quarter of the year.
The upcoming 7nm chips are estimated to contain 20+ billion transistors and will offer up to a 40% performance gain, or over 65% power reduction compared to their 16nm rivals. The higher density of the chips will also allow for a 20% area size reduction, resulting in smaller, lighter and more powerful machines.
GMO will host a customer information session in Shibuya, Tokyo, on June 6th and the new units are expected to be shipped at the end of October 2018.