Japan ready to kick Bitmain's ass

[cellard]

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

Japan’s leading internet conglomerate and bitcoin exchange operator GMO has announced that it is expanding into the businesses of bitcoin mining and chip manufacturing. The company revealed plans to produce and sell 7nm semiconductor chips and run a mining facility in Northern Europe.

"We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe. We will use cutting-edge 7nm process technology for chips to be used in the mining process, and jointly work on its research and development and manufacturing with our alliance partner having semiconductor design technology."

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.

[talkbitcoin]

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.

[ekoice]

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.

[subSTRATA]

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.

[stompix]

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.

[soothaa]

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.

[CryptoTamer]

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

[Kprawn]

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?

[Carlton Banks]

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.

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.

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.

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.

[stompix]

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:

Correction: An earlier version of this article, including the headline, misstated the amount that GMO announced it would spend to start mining bitcoin. It is more than $3 million, and not more than $300 million as originally stated.

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.

[25hashcoin]

Kick their ass? Wtf you talking about?

[nocturnalsheet]

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

[buddynuno]

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.

[farhansadik]

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.

[Carlton Banks]

Even so 16 > 7 makes no sense.

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).

Correction: An earlier version of this article, including the headline, misstated the amount that GMO announced it would spend to start mining bitcoin. It is more than $3 million, and not more than $300 million as originally stated.

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.

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.

[HeRetiK]

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.

[...]
 .....Come Silicon Valley... where are you?

Busy outsourcing their hardware production to China :p

[Hui8]

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. 

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. 

[mobnepal]

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.

[Vishnu.Reang]

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.

[ahmedjamal1998]

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.