Bitcoin Forum

https://news.bitcoin.com/japans-internet-giant-gmo-launching-bitcoin-mining-with-7nm-chips/



This 7nm would outperform the current generation of Bitmain's Antminer S9s. It will take a while until Bitmain catches up, this means that we may finally see some cracks in the ridiculous Bitmain's evil monopoly (evil because they promote dogshit like Bitcoin Cash, do evil miner things like mine empty blocks then complain about fees etc)

I hope more and more big players enter the game of mining. I remember Putin wanted to get in too, and im sure USA will be kicking miner ass too. nVidia and AMD will be there soon too with their own ASICs. This mining game has only begun. Bitmain's monopoly will be over sooner or later.

this is great, i am always happy to hear news regarding mining equipment manufacturing coming from other countries. it is long overdue for other computer hardware manufacturers to also enter the scene and start competing. it will only make things better.

with competition
- the equipment prices will come down,
- the technology will advance faster
- buying equipment becomes easier
- and finally it makes mining more decentralized

the other one that i heard was from Russia, i don't know what they are doing now.

That's really a great news and a relief for bitcoin community which is suffering these much days from the chinese miners.So,we could soon expect dominance of Bitmain and other chinese miners getting reduced and decentralization once again becoming possible in bitcoin mining industry.Those unloyal mining pools and chinese miners must be taught a lesson.They don't wish for progress of bitcoin.They need quick profits by any means even by destroying the reputation of bitcoin by hard forking.They should be kicked off from the mining industry forever.By this way,the transaction fee would get much reduced and chances of new hard forks would get reduced in future helping for the progress of bitcoin.So,its time to say Good Bye to chinese mining pools and chinese miners.

that's actually great, bitmain has always held a sort of monopoly over mining hardware, and the fact that no other manufacturer has been able to compete in efficiency doesn't help at all. with a company willing to invest this much into a market already dominated (by bitmain), it might drive prices of mining hardware down and let it be accessible to a greater range of people. to add, it seems theyre planning to go forward with a 7nm architecture, and with that, we might be seeing single asic machines capable of hashing at 25+ TH/s. didnt seem to say if the company would make these available for purchase to the public, but I really do hope that's the case.

Sorry but I don't buy this.

The 7 nm is at it's start and even Intel has a lot of troubles with tests until now and Samsung is not planning on launching anything this year.

Second , energy is Northern Europe is expensive, really expensive with 15-20 cents /kw.
The only place would be Iceland with still 2 times the price in China.

And why mentioning the place? It will probably be the a private mining operation.
That won't help a bit.
This is bait for investors at best.

Intel does not have a fire under its butt for massive profit to move to 7nm like this new company does. They want to make money and dethrone Bitmain - if they do this they will make millions upon millions. Intel has minimal competition and it shows in the 5th-8th gen CPUs.. they are fairly meh. Intel does not have the competition needed to move them. This is a possibility.

I like this news, this is what I expecting, the presence of big players to kick bitmain.
with existence of business competition, they will race to give satisfaction for the customer

This would be a dream come true, if this was truthful. I have been saying for years that other countries should consider going

into Bitcoin mining/ASIC manufacturing. We cannot have monopolies forming like this and no competition in the market.

Bitmain has exploited this advantage and it is time for someone to give them a run for their money in this scene. It would also

be beneficial for the end users, because these chips would have to be more affordable, when there are competition in the

scene.  ;) .....Come Silicon Valley... where are you?

That's CPU manufacturing you're talking about, though. CPU's are complex and relatively non-repetitive designs.

New advances in lithography process nodes are often rolled out with chips that have the same circuit repeated over and over, like the SHA256 ASIC chips that mine Bitcoins, or GPU shaders. These can tolerate higher rates of failure in die manufacturing, it's strategised in the design of many chips on the market.



They could be talking about Sweden also, which has huge hydroelectric plants. And don't forget that the Chinese electricity price is probably subsidised.


Saying all that, I have no idea how reliable this news is, just that I'm not convinced the process node or the energy issue discounts the veracity of this news.

Even so 16 > 7 makes no sense.
Also this correction:


3 million? That's ..meh... play money even for bitmain.

And if we talk Sweden, it doesn't matter how the energy is produced.
If you tax it like a moron socialist government you end with expensive power.
20 cents according to eurostat before VAT.

Kick their ass? Wtf you talking about?

support this, bitmain need to lose their dominance over btc mining

I agree that AMD and Nvidia might build their own mining operations. Bitcoin and altcoins are to damn profit for those companies to miss out this huge amount of profits and they have the resources to do so. Countries like Russia, US and Japan can definitely compete with Bitmain if they want.

Really, It is a great news for those who are going to start new mining.
It is the perfect time to wake up.
I am waiting for AMD & nVidia, hope they might be built their own mining chip.
I hope the transaction will be faster And the fee will be reduced after launching. This will start a competition to the market and we can be find some extra new features through this competition.
If that happens then Bitmain's exclusive supremacy May be reduced.

Hmmm, it doesn't necessarily have to be a halving of whatever the predominant feature size was. Sure, Bitfury and Bitmain etc use 16nm for their Bitcoin mining ASIC chips, but Intel use 14nm for Skylake and Broadwell, so it depends on the lithography tech the manufacturers have access to from their partner foundry (I think Intel were even considering an intermediate 10nm node before 7nm at one point).



Isn't that an average price, though? Empathise with your position though, Sweden is kind of authoritarian hell for European capitalist proponents, closely competed with by France no doubt.

Excellent news for Bitcoin. About damn time that someone new joins the mining game. With Bitcoin and crypto having proven itself to be more than just a fad it's only a matter of time until more established players enter the market.



Busy outsourcing their hardware production to China :p

The question is how long would they take to make it reality so that we can be availing there products and services. If they do make something more smarter than bitmain shit then I think bitcoin mining will get more cheaper than the current mining rate.  ;D

Yes monopoly of bitmain will come to end and who knows these techs might just get more cheaper than current one. Very efficient in mining and may be very cool. They must have to come to save our assess from being burnt by bitmain with heavy prices and the demand value incriminating.  ::)

All this new company joining bitcoin mining industry will ultimately increase competition against hardware manufacturer which will decrease price of the mining hardware. Also expansion of chip manufacturer around the world will increase number of mining farm which will increase mining difficulty, soon china might loss pride of major bitcoin mining country.

Japanese hardware and North European electricity is not a good combination, as both of them are expensive. The Japanese goods are some of the most reliable in the world. But that doesn't mean that this operation is going to be cost-effective.

That's interesting to see other companies ready to get into the mining field. At least to create some competition.
It's of course good to see more than one company creating the miners.

This should basically mean that prices will get down (competing to sell more) and advance more in little time.
The thing is it's not that easy to "kick" bitmain which totally has dominance over the bitcoin mining game at the current time.
Hopefully this actually turns out to something serious and not some articles spreading some talk.

Japan’s leading internet conglomerate and bitcoin exchange operator GMO...

And I used to think GMO is something with food and should be avoided :D

How would it change anything? China would be dethroned and Japan take its place. Sounds great but we'd still have a monopoly.

Looks like you overlooked the part that says they plan to use renewable energy and cutting edge technology. Also they plan on offering cloud mining as well as the sale of their miners as well as run a bitcoin exchange.

Can't wait for this company to come alive and put an end to China's ambushment of the crypto-world.

Having more competitor somehow weaken the monopoly,  I do not think they will dethrone each other, though Japan won't take its place since the mining station will be placed in Northern Europe, probably N Europe will dethrone China as the cheapest source of electricity for cryptocurrency mining equipment.  Anyway,  this is really a good news but the question is when will GMO finish their 7nm product.  As it was debated on the article, it is not soon that they will finish the product. 

Japan is always progressive country and they might breakthrough this project sooner than we think. Japan has adopted bitcoin as legal currency because they knew the potential of bitcoin and hence become the first country to adopt the bitcoin. The virtual thing is now coming to reality with their new project of building nano chips. They have always created awesome technology and ASIC would be made by them will be faster and more efficient than the traditional one. Happy about the news.


About nvidia and amd cards they might jump into mining hardware soon but who knows they might not because their cards are already in demand anyway.

The question about when GMO is able to enter the market with their 7nm product is the most critical one. As it stands, they would have a major advantage. But the competition doesn't sleep and the hashrate keeps growing, so if it takes them too long it will be all for nil.

I do not think that the world will alter that much because of this. Free market economy is the reason for the many innovations on common items in the marketplace today and the same is true for crypto. If they make a faster chip, then the push for even faster chips goes on and on and the world can only benefit.

it's a 6-10 month timeline, from the looks of it, assuming all goes well. given that, i wouldn't expect them to be outperforming bitmain in q3 next year. anything can happen, but i wouldn't bet on it. i suspect the amount being invested into bitmain eclipses anyone else in the space, easily.

still, i'm really glad to see new entrants in the space. not so much for the increased legitimacy (i actually don't care about that) but for the prospect of more decentralized mining and ASIC fabrication.

 7nm would be much more energy efficient. Japan has advantage in chip. But Europe may not have advantage in electricity cost. They may build another mining farm in place where electricity is cheap.

It is good to see more competitors in ASICs. With the rising bitcoin price, we may see more competitors. This is good as it will help mining centralization issue.

Yes more energy efficient device plus competition between manufacturer's means lower price per device. Last factor left would be the electricity cost and miners will have more profit from it.

This is actually some very good news, Japan is always known to apply the best technology that's available and they can always be relied upon, bitmain dictator'ship looks like it's finally coming to a end, and that's good especially what they did, they don't deserve to have a bigger say. However I feel this entire process will take time, even if it's Japan they will need time to set it up. This shows that Japan is super committed to Bitcoins and that's what we need.

i believe this is the company: https://www.gmo.jp/en/
it is the same that created the biggest Japanese bitcoin exchange. there are 2 links in their front page regarding bitcoin and mining.

but from what i read in that news, it seems like they are planning to start the production, it doesn't seem to be just starting.

tho still the sad truth is that there were only few people who could benefit from mining. Mining is becoming  so much expensive and cant also assured that you will be earning your profit in the end or in a short period of time because of the other costs. So basically  this mining hype can only be felt to those countries that youve mentioned

I just hope that japan will then try to consider to offer mining powers for a good acceptable rates to everyone

Good news, I've been hating on bitmain for too long now. It has been enough now.
Hope we'll see some affordable prices.

Will surely the remaining mineable bitcoin which is 3m+ bitcoin will be taken out early unlike what is being expected. Am i right or wrong? Or till when will all the available mineable bitcoin be emptied?

Have to say。 Japan in the virtual currency project is a bit ahead of consciousness. I hope this is also right, mining will be the future trend, there must be a good future.

i think bitmain will think about this but its great news if japan finally want to make bitcoin mining too. we can see there is competitor for the bitmain and with the newest technology from japan, i think they will create new hardware that more efficient and it will useful for the miners. if this is happen then japan will be step ahead than bitmain and japan will be the next leader in the mining hardware but i am still curious with their hardware.

Competition is good and a welcoming development also. I always been a fan of a Japan made gadgets and technology advancement. If this will work with stunning result I will never hesitate to purchase one for my own. This will make the mining field more fair and cost sensitive. Monopoly on this process will be eliminated and fees/cost of items, electricity saver rigs were be available in due time.

Damn this news just feels sooo damn great! Finally! A competition for bitmain! This should be a grwat eye opener for bitmain to improve their services at last. Not that it would make a difference after what they have shown the public. But at least now they would realize that customer care is more important than anything else.

 Now that a lot of big players are thinking of jumping in to the crypto world mining industry, I think there would be great competition in quality,  customer care, cheap prices, and ao much more. This will really be a big step forward for the crypto world. I just hope that all this will happen as soon as possible.