Japanese e-commerce and internet conglomerate DMM Group is creating a specialty lab for cryptocurrency mining. The company has also unveiled additional plans for its mining operations.
Also read: Russian Cryptocurrency Bill Is Ready – Regulators Share Details
DMM Launching Mining Lab
DMM Group, the operator of popular e-commerce site DMM.com with 27 million members, announced on Thursday the creation of its “research and development specialty lab” for cryptocurrency mining called DMM Mining Labo.
“In pursuing the highest possible hash power,” the company explained that the lab’s team will “go through cycles of experimentations and iterations, enhancing the set-up and tuning of our specialty machines.” The lab will also conduct ongoing research on a wide range of mining rig types and test them in order to find the “optimum balance between their hash power and electricity consumption,” DMM described. The company’s announcement reads:
In the foreseeable future, the goal of DMM Mining Labo is to achieve the highest per unit hash power for our machines…In the long-term future, DMM is examining options for manufacturing of their original mining machines, expanding operations beyond use of ready-made units.
DMM’s Mining Plans
The group first announced its plans to operate “a mass-scale, made in Japan” mining farm back in September of 2017. “DMM plans [to build an] operation that ranks in [the] top three of the world’s mining farm companies in terms of scale,” the company stated at the time, adding that:
During the year 2018, DMM will be one of the 10 largest mining farms in the world.
In its Thursday announcement, DMM said the company is “open to formalized adoption proposals of such technology from research institutes and various development corporations.” It is also looking to collaborate with major manufacturing companies. Furthermore, the lab is “prepared to run formalized testing on samples of pre-market technologies.”
Meanwhile, another Japanese conglomerate, GMO Internet, started a mining operation through its European legal entity last month, as news.Bitcoin.com reported. GMO is using existing technology to mine at its mining center in Northern Europe while developing 7nm chips, the company detailed, adding that it is working on research and development with a partner who possesses the needed semiconductor design technology. GMO plans to use 7nm mining boards in its mining process in the first half of this year and sell them in an initial coin offering (ICO).
What do you think of DMM’s mining plans? Let us know in the comments section below.
Images courtesy of Shutterstock, DMM, and GMO.
Need to calculate your bitcoin holdings? Check our tools section.