GMO Revealed The Price & Other Details About The New Bitcoin Miner

· 06 Jun 2018 in Crypto News, Home
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

The Japanese giant company GMO has released the latest details about its new Bitcoin mining equipment known as 7nm chip. The announcement has been made on may the 23rd on GMO’s website.

GMO New Bitcoin Miner

During a conference on June the 5th, the company has unveiled its latest ASIC miner dedicated to power the B2 miner. The product is manufactured in Taiwan and completely designed in Japan

It is a very important crypto miner because it makes mining activities much more productive. Miners are able to use more hash power but using less amount of electricity than a standard equipment. As reported by Bloomberg, the chip will have a hash rate of 24TH/s and will consume 1.950W per unit.

At the moment, the market leader is the Bitmain Antminer S9 which offers 14TH/s at power consumption of over 1,300W. The price is $837 dollars for the Antminer S9.

Bitmain is the biggest mining company all over the world, and it sells important mining rigs to the market. It has been working in different countries including China and Switzerland. It was also analysing the possibility to install some plants in Canada or the Scandinavian countries.

At the moment, there are no important competitors in the market that could challenge Bitmain’s position. But GMO is very confident about the plans that it has as a company.

Masatoshi Kumagai, GMO’s CEO, stated about Bitmain:

“I respect Bitmain, but we will top them.”

As mentioned before, pre-orders start today on June the 6th and shipments will start later during the year in October. The company has been working in this new mining processor since very long time, and finally it has been released to the market.

At the end of this year it will be possible to compare how these two products will perform compared one with each other (Antminer S9 and GMO’s 7m chip). Other important company that wants to enter the cryptocurrency mining market is Samsung that announced the last year that it was going to start producing ASIC chips.

The Bear Market Report
Our Bear Market guide not only helps you survive this crypto winter, but also guides you through the foundation you'll need to thrive in the next bull run.