GMO Internet to unveil world’s first Bitcoin mining device

Japanese technology giant GMO Internet has announced that on 6th June it will unveil the world’s first Bitcoin (BTC) mining device, which operates at the highest hash rates ever while lowering the costs of electricity.

The so-called B2 miner will be massively produced following its presentation next month and will be ready for shipment by the end of October 2017.

The firm said the launch of the mining device comes after months of testing the new ASIC processor.

The price and performance as well as all other details of the new device will be revealed during the presentation of the innovative product.

In a newsletter, GMO explained that in addition to selling the B2 device to other miners, they too have plans to utilise the new product at their existing mining plants.

The Japanese firm made a leap into Bitcoin mining business last year with a $90-million (£67 million) budget to back explorations in the Crypto Space, including chip making and mining farms. Since GMO began their mining operations late last year, they’ve managed to mine 906 Bitcoins and 537 Bitcoin Cash totalling close to $8 million (£6 million).

Samsung is also planning to take a share out of Bitcoin mining industry by producing more advanced chips, such as the 7nm.