Bitcoin mining may enter the 7-nanometer era, and giant GMO said it will start mass production in May next year

Previously, Babbitt reported that Japanese Internet giant GMO plans to enter the Bitcoin mining market. Recently, the company has announced the latest details of its 7nm mining chip. In addition, GMO also revealed that it plans to produce an ASIC mining card for PCs and sell it to the public.

Mines in Scandinavia

In a press release on Wednesday, Japan’s GMO Internet revealed new details about its new mining farm and its much-anticipated 7nm ASIC mining chips.

The company initially announced that the mining data center would be located in Northern Europe. At the press conference, GMO Group Chairman and President Masatoshi Kumagai further revealed that the mine will be located in Scandinavia and will be officially opened in December this year, when it will begin testing and running existing semiconductor mining chips.

GMO Group President Masatoshi Kumagai

As for why, GMO explained that the region provides clean and cheap electricity.

Invest 10 billion yen to develop 7-nanometer, 5-nanometer and 3.5-nanometer chips

Previously, it was rumored that GMO would invest $320 million in mining. In an interview with reporters, Kumagai disclosed that the company's total expected investment is about 10 billion yen (about 90 million U.S. dollars). These funds will be used to build and operate mining data centers and develop a series of mining chips.

Kumagai said:

“In the next few years, we plan to invest 10 billion yen to build a data center and develop 7-nanometer, 5-nanometer and 3.5-nanometer mining chips.”

Home PC Mining Motherboard

In addition, GMO announced plans to manufacture PC motherboards equipped with ASIC chips and sell them to the public. It is reported that each computing power card is expected to provide 8T/s of computing power and consume only 300 watts of power.

GMO's 7nm ASIC chip

Kumagai said that the 7-nanometer ASIC chip design logic has been completed, and "overwhelming competitive advantage is certain," adding that "this next-generation semiconductor chip is expected to reduce power consumption by 56% with equivalent performance, and the test version is expected to be completed in 2018."

According to the plan, this 7-nanometer chip will start mass production in May next year.