In February, the Japanese conglomerate GMO Internet Group earned about $ 1.8 million in cryptocurrency mining. In a month, the company produced 124 bitcoins and 287 Bitcoin Cash, reports Finance Magnates.
Compared to January, the productivity of GMO mining farms has grown significantly – then the company produced 93 BTC and 25 BCH. Thus, in February bitcoins were produced by 30% more, and the volume of received BCH grew more than 10 times.
It is noted that during the same period, the company’s total hash rate increased from 27 to 108 PH/s, demonstrating a fourfold increase. According to GMO representatives, by the end of 2018 the organization plans to reach the level of 3000 PH/s.
For comparison, company BitFury, which accounts for about 1.6% of the world’s production capacity, has a cryptocurrency with a frequency of about 295 PH/s. Thus, GMO Internet has already reached about a third of this hashed in just two months.
Recall that in September last year, the GMO Internet Corporation, based in Tokyo, announced plans to invest $ 320 million in the mining industry. Later the company announced its intention to take the leading positions in the sphere of cryptocurrency mining and to open a separate representative office in Northern Europe.