GMO, Japan’s largest internet provider, released quarterly earnings last week with a heavy focus on a large-scale crypto program. Of the 50 odd pages of slides used during the presentation half were dedicated to the company’s giant crypto initiative which includes in-house mining, cloud mining, ASIC productions and sales.
GMO reviewed four major crypto initiatives being pursued by the company: ASIC chip design and manufacturing, In-house mining using OTC miners as well as GMO developed machines, reservation and sales of ASIC devices, and finally a cloud-mining offering using GMO ASIC devices. All four initiatives will see 2018 launch dates if all goes as planned.
Most of GMO’s crypto projects revolve around the design and manufacturing of in-house ASIC mining equipment. These devices are broken into two “versions” in the investor data, with V1 of the ASIC chips scheduled for mass-production in June of this year, and the V2 version scheduled for mass-production in October of this year. Both versions are built on a 7nm node process and likely being fabricated by our friends at TSMC. Sales of the new ASIC devices will start in October of this year, although it’s not clear if those sales will be wholesale or have a retail component.
Here’s the wall of slides: