Japanese E-Commerce Giant DMM Unveils Bitcoin Mining Plans

Bitcoin
Spread the love

The Bitcoin mining ecosystem direly needs more decentralization. Although people from all over the world participate a few pools effectively control the network. Japan’s DMM Group will look to change all of this in the near future. The company announced plans to launch a Bitcoin mining operation. The will also create a new mining pool over the coming weeks. This is another validation of how Bitcoin taking off in the land of the rising sun.

The name DMM is well-known in all of Japan. The group made a name for itself thanks to their e-commerce website. On this platform, over 27 million members make purchases on a regular basis. The company has also kept an eye on the proceedings in the world of Bitcoin and cryptocurrency. As a result, the group will open its own mining pool in the future. Additionally, they aim to become one of the world’s largest mining farms in existence.

DMM has big Plans Related to Bitcoin Mining

Both of those plans are rather ambitious, to say the least. DMM Group has established a Virtual Currency Division tasked with both of these projects. The mining venture is expected to go live in October of this year. That means these plans have been in development for quite some time now. This mass-scale made-in-Japan quality mining farm will be rather spectacular. With a plan on the table to become one of the world’s top 3 mining farms, there is a lot of work to be done.

It appears the company will mine on their DMM Pool during the first few weeks. If the tests are successful, the pool will be opened to the public. A lot of growth is expected during the first half of 2018 and beyond. There is also an option for interested parties to invest in Bitcoin cloud mining. A bit more competition in this particular market wouldn’t be a bad thing. Not too many details are known regarding the mining chips used by the company, though.

All we know is how DMM plans to use 7mm ASIC chips for Bitcoin mining. Up until this point. No company has used any chips on that scale. It will be interesting to see how this venture will play out. Bitcoin has seen a strong growth in Japan these past few months, that much is evident. With companies such as DMM getting on board as well, the future’s looking bright for the world’s leading cryptocurrency.

No Comments

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Bitcoin
Bitcoin Price Faces Third Monthly Loss of 2019
Spread the love

Spread the love Bitcoin is on track to test $9,000, having dived out of a narrowing price range earlier this week. The cryptocurrency is likely to end August on a negative note, having suffered losses in July and January. BTC may suffer a deeper price drop over the next few months, possibly …

Bitcoin
Satoshi Nakamoto: ‘Bitcoin dips below $10K — again :(’
Spread the love

Spread the loveWelcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Albert Einstein used to say: Let’s whip up a knowledge omelette! Bitcoin Price We closed the day, August 28 2019, at a price …

Bitcoin
Bitcoin Eyes $9K Price Support After Drop to One-Month Lows
Spread the love

Spread the loveBitcoin (BTC) could drop to $9,000 in the next 24 hours, having strengthened the short-term bearish case with a drop to one-month lows earlier today. The top cryptocurrency by market value fell to $9,320 at 07:36 UTC today, the lowest level since July 28, according to Bitstamp data. …