Japan is going to have one of the largest Bitcoin mines of the world

Written by Talha Hameed ·  55 sec read >

Cryptocurrency continues to allure the businesses across the world. Recently, DMM, a Japanese conglomerate announced the launch of a Virtual Currency Division. DMM’s Virtual Currency Division will build a DMM Mining Farm, which according to their claim will be the largest one in Japan and among top 10 Bitcoin mining farms of the world.

DMM group has become a famous name in Japan because of its e-commerce empire which offers everything from e-books to robots to its 27 million regular users. The company assures that its DMM Mining Farm will be of “made-in-Japan quality” and also hopes to turn it into top 10 mining pools by 2018.

Cryptocurrency might be having a tough time in China, but in Japan, its market is on the rise. It has very favorable regulations for cryptocurrency, as it holds the status of a legal tender there. Japan is also credited for the overall success of cryptocurrency.

DMM’s announcement of Bitcoin mining farm came right after GMO Internet Inc.’s plan to jump into Bitcoin mining business. GMO is another internet giant in Japan which will be employing the latest 7nm process technology for its next-generation mining center. GMO also intends to do research and development on the mining process.

Large business organizations across the world are now aligning themselves according to the new blockchain technology and cryptocurrency. Recently, Burger King announced its own cryptocurrency. Few days after that announcement, Kik, a popular social media app, also announced its plan to launch a cryptocurrency that can be traded within the app.

See also: What are Bitcoins?