Japan’s DMM Enters Cryptocurrency Mining Race

It appears that regulatory changes in Japan, favorable towards Bitcoin and cryptocurrencies in general, has ignited a mining race between the country’s internet giants. DMM.com Inc. has announced the establishment of a ‘Virtual Currency Division’ which will begin operation of a cryptocurrency mining business, ‘DMM Mining Farm’, in October.

The conglomerate says that the DMM Mining Farm will operate a “mass-scale, made-in-Japan quality, mining farm” whose operating size will be “unmatched by any of the domestic operators.” In the future, DMM plans to have an operation that ranks in the top three of the world’s mining farm companies in terms of scale.

After completion of successful trials in October 2017, ‘DMM POOL’ will be released for world-wide use within the year 2017. And according to the plan, DMM will be one of the ten largest mining farms in the world during the year 2018.

The announcement also reveals that the company is developing ‘DMM Cloud Mining’, meant to be a safe and secure service that enables the general public to easily join the venture.

The Tokyo-headquartered group manages DMM.com, an online shopping empire site that offers everything from e-books and video on demand to solar panels and robots. It is perhaps best known around the world for its forex trading subsidiary DMM.com Securities.

This news comes very soon after one of DMM’s main Japanese rivals, GMO Internet, announced that it will operate a Bitcoin mining center in Northern Europe utilizing 7 nano-meter chips.

(Photo: pixabay)

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