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Japanese e-commerce and internet conglomerate DMM Group is creating a specialty lab for cryptocurrency mining. The company has also unveiled additional plans for its mining operations.
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DMM Launching Mining Lab
DMM Group, the operator of popular e-commerce site DMM.com with 27 million members, announced on Thursday the creation of its âresearch and development specialty labâ for cryptocurrency mining called DMM Mining Labo.
âIn pursuing the highest possible hash power,â the company explained that the labâs team will âgo through cycles of experimentations and iterations, enhancing the set-up and tuning of our specialty machines.â The lab will also conduct ongoing research on a wide range of mining rig types and test them in order to find the âoptimum balance between their hash power and electricity consumption,â DMM described. The companyâs announcement reads:
In the foreseeable future, the goal of DMM Mining Labo is to achieve the highest per unit hash power for our machinesâŠIn the long-term future, DMM is examining options for manufacturing of their original mining machines, expanding operations beyond use of ready-made units.
DMMâs Mining Plans
The group first announced its plans to operate âa mass-scale, made in Japanâ mining farm back in September of 2017. âDMM plans [to build an] operation that ranks in [the] top three of the worldâs mining farm companies in terms of scale,â the company stated at the time, adding that:
During the year 2018, DMM will be one of the 10 largest mining farms in the world.
In its Thursday announcement, DMM said the company is âopen to formalized adoption proposals of such technology from research institutes and various development corporations.â It is also looking to collaborate with major manufacturing companies. Furthermore, the lab is âprepared to run formalized testing on samples of pre-market technologies.â
Meanwhile, another Japanese conglomerate, GMO Internet, started a mining operation through its European legal entity last month, as news.Bitcoin.com reported. GMO is using existing technology to mine at its mining center in Northern Europe while developing 7nm chips, the company detailed, adding that it is working on research and development with a partner who possesses the needed semiconductor design technology. GMO plans to use 7nm mining boards in its mining process in the first half of this year and sell them in an initial coin offering (ICO).
What do you think of DMMâs mining plans? Let us know in the comments section below.
Images courtesy of Shutterstock, DMM, and GMO.
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The post Japanese Entertainment Giant DMM Launches Specialty Crypto Mining Lab appeared first on Bitcoin News.
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