Japanese Internet Colossus GMO to Launch Cloud Bitcoin Mining Service

February 14, 2018

GMO Internet, a multibillion Japan-based Internet and technological conglomerate, has made public its plans on launching a new service for cloud Bitcoin mining in August this year.

Founded at the beginning of 1990s, Tokyo company GMO claimed it has rushed into crypto world with multimillion investments into new mining business.

To date GMO has confirmed its intentions for preliminary run of a new cloud service called Z.com Cloud Mining in August. To heat up interest the company will hold awareness sessions in 9 cities of the world in March. Those are Tokyo, New York, Los Angeles, London, Frankfurt, Hong Kong, Singapore, Zurich and Dubai.

There supposed to be a two-year leasing contract to the tune of 5 mln USD (approximately 550 mln yen) which is to include costs for power, land, technical maintenance and security for the object in the course of two years. Cloud mining will be specifically supporting SHA256-mined cryptocurrencies, namely Bitcoin and Bitcoin Cash. Up to 8 such contracts per month are planned to be made, as the Internet giant stated.

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