Japanese IT company GMO mines Bitcoin worth millions of dollars

Tuesday 6 March 2018 00:09 CET | News

GMO Internet, a Japan-based IT company, has mined more than USD 3 millions in Bitcoin since December 2017.

According to a mining report released on March 5, 2018, the publicly-traded company disclosed that it had generated 23 BTC, 93 BTC and 124 BTC in December 2017, January 2018 and February 2018, respectively. All told, those coins are worth approximately USD 2.67 million as of press time according to CoinDesk’s Bitcoin Price Index.

Moreover, the company further reported a total mining income of 525 Bitcoin cash during the same period, an amount valued at USD 654,000 at current prices. All told, GMO’s mining venture brought in a little over USD 3.3 million in revenue within months since its start.

However, the data provided by the internet company doesn’t offer a complete picture of the mine’s financial status, including the cost at which those coins came. It is unclear whether the number of cryptocurrencies brought in exceeded operating expenses at any point during the three-month period, CoinDesk continues.

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Keywords: GMO, Bitcoin, cryptocurrency, mining, cryptocurrency miners, Bitcoin mining, Japan
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies