GMO Internet Inc.

02/09/2018 | Press release | Distributed by Public on 02/09/2018 00:31

GMO Internet Opts to Launch a Cloud Mining Service: Service and information session for potential customers to be held in 9 cities

Tokyo, Japan - February 9, 2018 - GMO Internet's (https://www.gmo.jp/en/ ) new cryptocurrency mining business today has announced its new cloud mining service Z.com Cloud Mining, which will be launched in August 2018 (tentative). As a result, from March 2018, GMO Internet will start accepting priority applications for customers who wish to use our new service, and will hold the service and information session in 9 cities.

From Thursday, March 1, 2018, GMO Internet will start accepting priority application for the service and applications for attending this service and information session. Please see the following link for more information on the application: https://cloudmining.z.com/ .

Background of launching Z.com Cloud Mining


GMO Internet Group, which comprehensively develops Internet business, has launched the cryptocurrency trading service in May 2017, announced entry into cryptocurrency mining business in September 2017, and launched the business in December 2017, earlier than initially planned, accelerating the new businesses in cryptocurrency related markets.

GMO Internet is working on research and development of a cutting-edge 7 nm* process technology for chips to be used in the mining process (next-generation mining chips) with our alliance partner to develop our own high-performance computers. In January 2018, our cryptocurrency mining business has succeeded in developing a 12 nm FFC process based semiconductor, which is a significant milestone. In terms of power supply, we operate a next-generation mining center utilizing plentiful renewable energy in the region, which has allowed us to secure clean and inexpensive power supply.

Under such situation, in consideration of the fact that GMO Internet's cryptocurrency mining business is progressing smoothly, GMO Internet today has announced its new cloud mining service Z.com Cloud Mining, which will be launched in August 2018 (tentative). Before entering cryptocurrency mining business, we have announced that we are planning to offer the cloud mining service. We have already been receiving inquiries about our cloud mining service, so from March 2018, GMO Internet will hold the service and information session in 9 cities to meet the needs of the companies or businesses worldwide who have announced their intention to participate in the cloud mining.

*1 nm: nanometer. 1/1 billion meter. 1/1 million millimeter

Z.com Cloud Mining

GMO Internet will rent out part of its mining facilities (next-generation mining centers), which are operated through its European legal entity, and manage the facilities. Customers will receive cryptocurrencies gained through mining as a reward if they succeed in mining with our facilities that they are using (we will charge management fees separately). Businesses, which may find it difficult to invest in and manage mining equipment on their own, can participate in cryptocurrency mining through Z.com Cloud Mining.
Launch Date Planned to be launched in August of 2018
Our Offer We will be renting out part of our mining facilities full of mining machines equipped with our original next generation 7nm mining chips
Facility rental fee 5M USD (approx. 550M JPY) per rental contract (One time upfront payment for 2 years rental contract)
Operation fee TBD
* We will take into account the power cost, land cost, maintenance cost, security cost, etc...
Term of Contract 2 years (no cancellation policy)
Currencies (TBD) Cryptocurrencies mined on SHA256 algorithm (Bitcoin, Bitcoin Cash)
Registration - We plan on accepting up to 8 contracts per month.
- We will start accepting applications starting 3/1/2018.

■Service and information session

Date From March 2018 (TBA)
Venue To be held in 9 cities (tentative)
(Tokyo, New York, Los Angeles, London, Frankfurt, Hong Kong, Singapore, Zurich, Dubai)
Target Potential customers of Z.com Cloud Mining
Application process After the application period opens, make an application by clicking the following URL and filling out the application form.
URL: https://cloudmining.z.com/
Application period From Thursday, March 1, 2018

*We will announce the details through our website.

With the cryptocurrency mining business, GMO Internet Group will aim to become No. 1 worldwide in the cryptocurrency service.

Outlook for the future

GMO Internet's new cryptocurrency mining business is planning the following depending on our own mining operations.

(1) Cloud mining service (August 2018, tentative)
GMO Internet will rent out part of our mining facilities (next-generation mining centers), and customers will receive cryptocurrencies gained through mining as a reward if they succeed in mining with our facilities that they are using. We are considering the details of this service that allows an individual or a business, who may find it difficult to make massive investment in and manage mining equipment, to participate in the mining.

(2) Sales of next-generation mining boards (TBA)
After manufacturing mining boards equipped with mining chips, they will be used in next-generation mining center, and we will also sell them. We are considering the token sale in 2018, using ICO to sell the chips.

(3) Supply GMO Coin with cryptocurrencies
We will supply GMO Coin (cryptocurrency exchange business registration number: Kanto Local Finance Bureau No. 00006), our consolidated subsidiary, with mined cryptocurrencies including Bitcoins, through which GMO Internet Group will contribute to an increase in diversity and liquidity of the cryptocurrency market.

GMO Internet Group

GMO Internet Group is an Internet services industry leader, developing and operating Japan's most widely used domain, hosting & cloud, ecommerce, security, and payment solutions. The Group also includes the world's largest online FX trading platform, as well as online advertising, Internet media, and mobile entertainment products. GMO Internet, Inc. (TSE: 9449) is headquartered in Tokyo, Japan. For more information, please visit http://www.gmo.jp/en/ .