Massive Japanese conglomerate, GMO Internet, has published a report outlining the performance of its mining business.
It reported that they have mined 21 BTC and 213 BCH – which back in December was valued at roughly $15,850 and $2,715 USD respectively.
In January 2018, the company then mined 93 BTC and 25 BCH – then valued at an estimated $10,300 and $1,500 each. They also reported a hash rate of 22 penta hashes per second (PH/s) during December, and 27 PH/s during January.
Just last month, the firm ramped up the scale of its mining operations, with GMO documenting a hash rate of 108 PH/s after the use of more hardware. They mined 124 BTC and 287 BCH during February 2018 – valued by GMO at around $10,670 and $1,240 respectively.
The report also indicates that GMO Internet’s “goal is to see the hash rate reach 3,000 PH/s this year,” clearing up the company’s purpose to soon become a major player within the bitcoin mining industry.
If prosperous, a hash rate of 3,000 PH/s would offer GMO comparable computing power to that of Viabtc’s mining pool. According to Blockchain.info, Viabtc at the moment has the third largest bitcoin mining pool, making up for 12.9% of the BTC mining network with roughly 3,390 PH/s as of press time.
Just last month, GMO Internet also declared its objective to start a cloud mining service in August 2018. The company began accepting priority applications from potential customers on March 1.
GMO seems to be focusing on clients with vast resources. This is because a single two-year contract is estimated to be roughly $5 million (550 million JPY) each, not inclusive of maintenance expenses.
