Japan’s Entertainment Giant DMM Launching Bitcoin Mining Farm and Pool

[krishnapramod]

Shortly after Japan's Internet giant, GMO Internet announced their bitcoin mining plan, Japanese entertainment giant DMM Group, the operator of e-commerce site DMM.com with 27 million members, has announced that it will operate a large-scale cryptocurrency mining farm. The company plans to become one of the top three mining farm companies in the world.

DMM Group announced on Friday that it has established a Virtual Currency Division which will operate a mining business beginning in October.

“After completion of successful trials in October 2017, ‘DMM Pool’ will be released for world-wide use within the year 2017,” the company declared. “During the year 2018, DMM will be one of the 10 largest mining farms in the world.”

In March 2016, the e-commerce giant started accepting bitcoin payments through Coincheck, a leading Japanese bitcoin exchange and merchant service provider.

https://news.bitcoin.com/japans-entertainment-giant-dmm-launching-bitcoin-mining-farm-and-pool/

[ActiveP]

Shortly after Japan's Internet giant, GMO Internet announced their bitcoin mining plan, Japanese entertainment giant DMM Group, the operator of e-commerce site DMM.com with 27 million members, has announced that it will operate a large-scale cryptocurrency mining farm. The company plans to become one of the top three mining farm companies in the world.

DMM Group announced on Friday that it has established a Virtual Currency Division which will operate a mining business beginning in October.

“After completion of successful trials in October 2017, ‘DMM Pool’ will be released for world-wide use within the year 2017,” the company declared. “During the year 2018, DMM will be one of the 10 largest mining farms in the world.”

In March 2016, the e-commerce giant started accepting bitcoin payments through Coincheck, a leading Japanese bitcoin exchange and merchant service provider.

https://news.bitcoin.com/japans-entertainment-giant-dmm-launching-bitcoin-mining-farm-and-pool/

Thanks for sharing. This is positive news considering the rocky week bitcoin experienced this past few days. Hopefully it is a sign of things to come. I am frustrated with all the negative news coming out of China. Thank you Japan.

[buwaytress]

Any move that further spreads the concentration of miner power will be a welcome one any day of the week. And no, I'm not (as) deluded about Bitcoin's decentralised ideology!

If Japanese sentiment from exchanges from the August fork resonates with these new miners, I'm pretty sure Bitcoin core will also gain a few more supporters, or at the very least those who won't side with the Chinese miners. They're making a bold 2017 readiness deadline, deliberately in time for November maybe? With India and the rest of South Asia taking their time to make their presence known, looks like the Far East dragons will be the ones with early flag-planting.

[fossilized]

Japan is really great with new technology. This is really healthy for the bitcoin ecosystem and to get an established player like DMM in the field speaks alot for the future of bitcoin.

I have no doubt that more companies will be jumping on the bandwagon soon.

[tyuner4]

I'm rooting for Japan. China has been a leader definitely too long. It would be great to see more competition for the biggest miners.
Also, it would be nice if they started manufacturing and selling their own ASICs. Then we could be finally independent from China.
We might just got closer to decentralisation!

I agree that it will be good if Japan manufacture and sell ASIC, Japan electronics have been good and safe.
Hopefully the hardware price will be competitive though.

[OmegaStarScream]

Another step towards less centralization and I'm not that much of an expert but I believe they want to do mining using 7nm chips while this has not being achieved yet by any company so even with the big amount of money they have, It's not going to be easy, see the comments: https://news.bitcoin.com/japans-internet-giant-gmo-launching-bitcoin-mining-with-7nm-chips/

[Halcyon Days]

Big news, but since Bitcoin is accepted as a official currency in Japan, this totally makes sense.

[skyline247]

Hey, Japan is the world leader in technology these days, and has been for decades now. What can we say? This is certainly not unexpected. I think they are extremely smart for backing their citizens who want to mine Bitcoin... because it allows them to get ahead of the game, and 20 years from now Japan will be super wealthy, way more than today (and they already are), because of their investment in Bitcoin and cryptocurrencies today.

[Qartersa]

About the poll, I would say it will depend on a lot of things. If bitcoin mining gets hindered by a lot of government regulations in china, it would happen and miners will likely move to other countries.

Whether japan will be the next mining haven? Well that depends also again in their government and as well as how much they will charge for electricity. Problem is, everything is made in china, so definitely they will buy from china.

[Proteania Dev]

In the midst of China's depressing news, i find this very upbuilding..

[szpalata]

In the midst of China's depressing news, i find this very upbuilding..

Exactly, it is a consolation to us and we hope it will indeed turn the hands of time so that the Chinese government ban on Bitcoin exchanges will be neutralized.

[Pettuh4]

Big news, but since Bitcoin is accepted as a official currency in Japan, this totally makes sense.

Yes Japan seem to have responded in kind to the negative news from their Chinese counterparts and that has neutralize the downturn which Bitcoin took a while ago. They should start mining and we'd support them.

[Hydrogen]

A more decentralized mining paradigm split between countries other than china could be a step towards the type of future Satoshi originally envisioned.

People may have witnessed firsthand the disadvantages of miner centralization in terms of the amount of influence chinese miners wielded during fork negotiations due to something resembling a controlling majority of miners.

Russia pledged $200 million towards bitcoin mining in previous news releases. It remains to see if they will follow through. There seems a decent chance we'll see mining decentralize further.

[chixka000]

This is one of the best thing that his company does. Aside from they accepted bitcoin as a payment for every purchase from their e-commerce platform. Tho unlike China electricity bill from japan is much higher. The question here is that how would they manage to surpass those companies from china who actually are gaining a lot plus the advantage of low electricity cost.

[Adbitco]

This is going to be one of the best things Japanese companies plan to do. The only regret is though Japan should have started it earlier but still it's going to help bitcoin greatly. China's dominance in bitcoin mining should see an end and in fact there shouldn't be any country's dominance as far as bitcoin mining is concerned. It should be well distributed among all the nations though that's not possible but I hope that Japan's entry into bitcoin mining is for sure going to boost bitcoin and therefore it's a welcoming decision by Japan.

[salihno71]

This is a good news. It's good to have miners created in more countries. It helps decentralization.

[eaLiTy]

It is always welcome to see more mining farms with huge backing but we are yet to shed off the monopoly of bitmain as the single manufacturer who produces ASIC hardware used for mining and when that is achieved we could see the changes,as a user i want to see competition between two manufacturing units rather than competing to make the biggest farm with the machines from Bitmain.

[farhansadik]

Japan is really one step ahead of everyone In terms of technology.
If they were able to produce such a chip then it would cause a new revolution in the crypto system.
This will increase the competition at the mining pool.
And China's monopoly rights will be reduced.

But the matter of concern is they are going to create a 7nm chips,
That is not very easy.
However, right now it is a suitable time for such a revolution.

[ivrynx]

japan is finally proving itself a superpower not to messed with, following russia and china, japan will surely make a statement regarding on the crypto world, for sure, japan will make sure that its citizens will benefit from this. the technological world is already advancing and bitcoin is surely a part of of this advancements, not only being used for transactions, but the technology behind bitcoin will surely help us all. I hope they are successful will their mining farm and pool not only will it make the value of bitcoin be higher but for sure it will make the citizens of japan who ha bitcoin be richer, I think now is the right time for farming since the value is going sideways and after the fork in novermber, I think it will turn out like what happened on august 1, it will surely rise and give us capital gains.

[Seansky]

Shortly after Japan's Internet giant, GMO Internet announced their bitcoin mining plan, Japanese entertainment giant DMM Group, the operator of e-commerce site DMM.com with 27 million members, has announced that it will operate a large-scale cryptocurrency mining farm. The company plans to become one of the top three mining farm companies in the world.

DMM Group announced on Friday that it has established a Virtual Currency Division which will operate a mining business beginning in October.

“After completion of successful trials in October 2017, ‘DMM Pool’ will be released for world-wide use within the year 2017,” the company declared. “During the year 2018, DMM will be one of the 10 largest mining farms in the world.”

In March 2016, the e-commerce giant started accepting bitcoin payments through Coincheck, a leading Japanese bitcoin exchange and merchant service provider.

https://news.bitcoin.com/japans-entertainment-giant-dmm-launching-bitcoin-mining-farm-and-pool/

It is nice to see that other countries are starting to enter mining industry and by doing this, the dominance of China in mining will lessen. Bitcoin's mining difficulty will sure rise because of this, but dominance China to the mining industry and it's monopoly of bitcoin will be lessened. The only matter of concern though is if they are going to succeed in creating a 7nm chip or not but most probably they will succeed after all Japan is way more advanced in technology than any other country.