The news (extracted from Quartz):
- Japanese internet giant GMO just announced its cryptocurrency mining plan. The Tokyo-based company aims to spend more than 10 percent of its non-current assets, which amounts to US$320 million, to start mining bitcoin in the first half of 2018.
- GMO plans to develop its own mining chips, claiming they will operate at an unprecedented degree of efficiency. The proposed chips will use 7nm [nanometer] nodes, four times more energy efficient than the current industry standard of 16nm nodes.
Why it matters: