Japan's GMO plans to sell its 7-nano bitcoin mining equipment through an initial ICO IPO

Japan's Internet giant GMO said on Wednesday that its petrochemicals will be launched through an initial currency offering (ICO) next year. The purpose of selling the currency is to 'sell the next generation of mining machinery.' Where the company wrote:

'We will issue the currency as a means to buy the next generation of mining machinery.'

In Japan, there is currently no specific law for the regulation of currency support operations (ICOs). However, some laws based on currency sales may apply. For example, some of them may be classified as securities sales and subject to current securities laws. GMO said in its announcement:

'We will consider properly the laws and regulations that apply to us under current legislation including the Payment Services Act, the Financial Instrument and the Exchange Act. We will also take into account the protection of currency buyers and the profits of stakeholders when designing the currency presentation process. '

At the end of September, GMO's 'Betcoin' trading platform, called 'GMO Coin', became one of the first 11 Bitcoin trading platforms that were able to be registered by the Financial Services Agency (FSA).

 

The work of the Bitcoin mining company 'GMO'

GMO is currently developing an ASIC 7nm chip in collaboration with a partner with semiconductor design technology. The project was first unveiled in September. According to Masatoshi Kumaji, president of the GMO group, the company plans to invest 10 billion yen in the next few years on the mining process as well as on research and development of 7nm, 5 nm and 3.5nm mining chips. In addition to operating the mining center in northern Europe, the company will also launch cloud mining and sell mining regulations equipped with 7nm mining chips. Kumagai said:

'As planned, each card will be able to mining 8 Terra Hush per second or more with the power consumption by 300 watts only.' The company 'GMO' on Wednesday, explaining that:

'It is possible to reduce energy consumption compared to existing mining machines in the same performance, and achieve computational performance of 10 Terra hash / sec for each chip.

'She also added:

'We will launch a mining-based computers mining ready by December 31, 2017 which will lead to the entry of large-scale mining in the work of Alpetkoan.'

On the other hand, the company's statement stressed that: 'After the launch of the work Alpetkoan mining, we will also sell the next generation of mining Alpetkoan our own devices.'