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| July 23, 2018

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China Bike-Sharing Giant Ofo to Shut Most U.S. Operations

July 20, 2018 |

Less than a year after China’s Ofo Inc. entered the U.S. with big ambitions, the world’s largest bike-share company plans to shut down most of its U.S. operations, people familiar with the matter said.
WSJ.com: What’s News Asia

Greenland Villagers Flee as Giant Iceberg Approaches

July 13, 2018 |

A huge iceberg heading for a tiny Greenland town has sent villagers fleeing. Per Newsweek , the berg is so big it found itself lodged on the sea floor just beside the town of Innaarsuit, where the around 170 residents fear flooding could occur as chunks fall into the sea. The…
Newser

Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs

July 9, 2018 |

Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs

Japan’s internet giant GMO has released the latest results of its cryptocurrency mining operation. The company has also started using 7nm rigs for its in-house mining business. News.Bitcoin.com talked to a GMO spokesperson to find out more details.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

1906 BTC and 636 BCH Mined

GMO has released its mining report for June. According to the report, the company has mined 1,906 BTC and 636 BCH since its mining operation began in December last year; 528 BTC and 62 BCH were mined in June.

Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs

From December last year to May this year, GMO’s monthly BTC output was 21, 93, 124, 295, 373, and 472 BTC respectively. Its BCH output was 213, 25, 287, 12, 0, 37, 62 BCH respectively. In April, GMO did not mine any BCH.

A GMO spokesperson told news.Bitcoin.com that in the future:

We will decide the [mining] ratio, BCH or BTC, depending on the market environment.

Rising Hash Rate

Meanwhile, the hash rate of GMO’s pool has grown from 22 PH/s in December last year to 299 PH/s in May and 384 PH/s in June. “Hash rate rose due to the increase in the number of computers we are operating as planned,” the company wrote.

Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs

The company also expects the hash rate of its mining pool to reach 3,000 PH/s by the year’s end.

Using 7nm Mining Rigs

GMO Internet started its mining operations in December last year. The company’s mining business is divided into three areas: in-house mining; cloud mining; and the development, manufacture, and sale of mining machines.

Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm RigsLast month, the company launched its first line of 7nm mining rigs, GMO miner B2. The rigs, priced at $ 1,999 per unit, were quickly sold out, according to the company. Some upgrades were subsequently made to the B2 miners, resulting in the launch of GMO miner B3 which the company claims has a maximum hash power of 33 TH/s. Both models will start shipping in November.

According to its first-quarter results presentation, GMO started using an undisclosed number of 7nm mining rigs in its own mining operation last month. The GMO spokesperson confirmed to news.Bitcoin.com:

We do use 7nm rigs in our mining operation…[But] it is an old type that we don’t sell to the market.

In October, the company plans to start using mass-produced 7nm equipment for its own in-house and cloud mining businesses.

While the spokesperson clarified that, in October, “We will use GMO miner B3” for all new mining equipment installations, he noted that existing mining rigs will not be replaced.

What do you think of GMO using 7nm rigs in its own mining operations? Let us know in the comments section below.


Images courtesy of Shutterstock and GMO Group.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japanese Internet Giant GMO Boosts Own Bitcoin Mining Output With 7nm Rigs appeared first on Bitcoin News.

Bitcoin News

Chairman of Giant Chinese Conglomerate Dies in Fall

July 4, 2018 |

The chairman of one of China’s largest conglomerates died in an accidental fall in Provence, France, Tuesday, the BBC reports. HNA Group co-founder Wang Jian was in the country on a business trip; he was having his photo taken while on a sightseeing jaunt in Bonnieux when the 57-year-old reportedly…
Newser

Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin Miner

July 2, 2018 |

Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin Miner

Japanese internet giant GMO has launched a new, upgraded model of its bitcoin miner equipped with 7nm ASIC mining chips. The previous model was sold out. The new model can achieve a higher hash rate and has a “hash power optimization function.” It is for sale at the same price as the previous model.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

GMO miner B3 Launched

GMO Internet Group announced Monday the launch of its new model of 7nm bitcoin mining rig, GMO miner B3. As with its predecessor, GMO miner B2, the new model uses “the mining ASIC of the 7nm process GMO72b” which supports “cryptocurrency mining of SHA256 and can execute mining of bitcoin and bitcoin cash.”

Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin Miner

While the B2 model has a hash power of 24TH/s, the B3 model has a maximum hash power of 33TH/s, “which is much better than our existing products,” the company described, elaborating:

The major characteristics of GMO miner B3 are that it has the maximum hash power of 33 TH/s as well as can adjust the hash power optimally up to 33TH/s depending on the mining environment and global hash rate.

The B2 model consumes 1,950w per unit or 81W per TH/s. While the B3 model can also operate at this level, its maximum output of 33TH/s will consume 3,417w per unit or 103W per TH/s, GMO noted.

Price for July – Still $ 1,999

As GMO previously explained, the price of its miners is set each month. The price tag for each GMO miner B2 unit, launched on June 6, was $ 1,999.

Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin Miner
GMO’s 7nm chip.

The B3 model will be sold at the same price as the B2 model. “The sales price in July is 1,999 dollars and it is to be shipped in November,” GMO detailed, adding that “we shall upgrade it [B2 model] to GMO miner B3 for free if requested.”

Currencies accepted are BTC, BCH, and US dollars. Moreover, all GMO miners carry a 180-day warranty. The price includes 2 power supply units but does not include the shipping cost.

Function to Optimize Mining Efficiency

In Monday’s announcement, GMO also revealed that the B3 model contains a newly implemented “function to set the optimal hash power and power consumption depending on the environment,” elaborating:

While we were selling GMO miner B2, several customers have requested a function to adjust the hash power. Therefore, we accelerated the planned development of ‘hash power optimization function,’ which can set the optimal hash power and power consumption, and implemented it in GMO miner B3.

Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin MinerThere are two modes to this new function: the automatic mode and the manual mode. The former will automatically adjust “the hash power optimally up to 33TH/s in accordance with the electricity cost, which varies depending on the mining environment, and changes in the indicators such as the global hash rate,” the company detailed. “This enables [mining operators] to improve the efficiency of mining.”

Furthermore, GMO reiterated that the B3 model “adheres to all of the additional services implemented in GMO miner B2.” They include a “daisy chain connection of up to 32 units, an online update of software, and online monitoring of the operation status.”

What do you think of GMO miner B3? Do you want one? Let us know in the comments section below.


Images courtesy of Shutterstock and GMO Group.


Need to calculate your bitcoin holdings? Check our tools section.

The post Japan’s Internet Giant GMO Launches New Upgraded 7nm Bitcoin Miner appeared first on Bitcoin News.

Bitcoin News

Giant 23-Foot Python Swallows Woman Whole

June 17, 2018 |

“Attacks on humans are rare,” read the last Newser story about a 23-foot python swallowing a human in Indonesia. That was in March 2017, and now history repeats its gruesome self, with the victim this time a 54-year-old woman who went to check on her corn. Concerned about wild boar…
Newser

Czech president burns giant pair of red underwear in bizarre press stunt

June 15, 2018 |

The president of the Czech Republic stunned journalists at a press conference on Thursday where he set a giant pair of red underwear on fire.
FOX News

Ex-Wife Discovers ‘Lost’ Record by American Giant

June 11, 2018 |

One of America’s most acclaimed musical artists has a new record coming out more than 50 years after he died, the New York Times reports. The newly revived label Impulse! says it will release Both Directions at Once: The Lost Album by the John Coltrane Quartet, a 1963 recording that…
Newser

Date Set: Japan’s Internet Giant GMO Will Launch 7nm Bitcoin Miner on June 6

May 25, 2018 |

Date Set: Japan's Internet Giant GMO Will Launch 7nm Bitcoin Miner on June 6

Japan’s GMO Internet announced that it will unveil its flagship bitcoin mining machine, called GMO miner B2, equipped with the 7nm chips on June 6. Interested customers can register now for the upcoming information session.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Launching on June 6

The wait for 7nm bitcoin mining products from Japanese internet giant GMO may be nearing to a close, as the company announced Thursday:

GMO Internet Group will launch GMO miner B2, which is our own high-performance computer for mining (mining machine), on Wednesday, June 6, 2018. We will mass-produce the world’s first mining machine equipped with a cutting-edge 7 nm process based semiconductor chip (7nm mining chip; ‘GMO 72b’), which will be shipped at the end of October 2018.

Date Set: Japan's Internet Giant GMO Will Launch 7nm Bitcoin Miner on June 6
Illustration of GMO miner B2 provided by GMO.

The company has been working on research and development of the 7nm mining chip since September last year.

GMO has been using “store-bought mining computers” for its mining operation launched in December, as news.Bitcoin.com previously reported. Now it is ready to start producing its own mining equipment made with this 7nm chip, which GMO will use for its in-house mining operation as well as offer “the others to potential customers who are planning to mine,” the company confirmed.

While GMO has not released images of the real mining hardware, the company has provided some illustrative images of the GMO miner B2 currently in development.

Date Set: Japan's Internet Giant GMO Will Launch 7nm Bitcoin Miner on June 6
Illustration provided by GMO.

Interested Customers Can Register Now

“An information session for potential customers considering the purchase of GMO miner B2 will be held on Wednesday, June 6 in Shibuya, Tokyo, and we will explain the details of GMO miner B2, such as price and performance,” GMO’s announcement reads.

Date Set: Japan's Internet Giant GMO Will Launch 7nm Bitcoin Miner on June 6

There will also be an information session for the company’s cloud mining service on the same day. The sessions will be in Japanese. Registration is open to both interested customers and institutional investors. “Customers who have not registered in advance will be refused admission,” GMO emphasized.

Furthermore, GMO Internet no longer plans to use an initial coin offering (ICO) for the sale of its 7nm mining boards as announced in October last year. A representative of the company told news.Bitcoin.com, “for this mining machine sales and cloud mining, we don’t plan to utilize ICO.”

How powerful do you think GMO’s 7nm miners will be? Do you want to buy one?Let us know in the comments section below.


Images courtesy of Shutterstock and GMO Internet.


Need to calculate your bitcoin holdings? Check our tools section.

The post Date Set: Japan’s Internet Giant GMO Will Launch 7nm Bitcoin Miner on June 6 appeared first on Bitcoin News.

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