NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Japanese Internet Giants Shutter Crypto Mining Operations

Martin Young
Martin Young
1 year ago
2 mins read
ASICS

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

As Bitcoin and crypto prices continue to fall profitability from mining using certain types of hardware inevitably follows suit. Japan has a number of high profile corporations heavily invested in mining operations and it looks like they are about to pull the plug.

Closure of Crypto Mining Hardware Production and Farms

According to reports in local media, Japan’s online retail giant GMO is pulling out of the Bitcoin mining hardware industry. As hash rates increased while prices fell, mining competition also intensified putting the pressure on profitability. In response to this GMO has decided to withdraw from sales and development of mining equipment which is now no longer profitable despite hash rate falling a little recently.

The report goes on to state that this painful move cost the company 25 billion Yen. It aims to continue mining itself and is currently seeking out crypto-friendly nations in northern Europe with more favorable electricity prices. A cryptocurrency exchange is also in the pipeline according to a translation of the article.

In addition to GMO’s shift away from hardware production, Japanese ecommerce giant DMM is also reportedly making an exit from the crypto mining industry. The company has cited ‘deteriorating profitability’ as the primary reason adding that “the withdrawal process such as the sale of the machines will go over to the first half of 2019.”

According to reports, DMM will be focusing on its exchange platform which has already achieved full regulatory and license status in Japan with only 15 others. DMM began operation of a large scale mining farm in Kanazawa last year when it started mining Bitcoin, Ethereum and Litecoin. Grand expansion plans were put forward and the farm was slated to run a thousand machines over 500 square meters of floor space. The company also announced a showroom and tours around the facility for the public but this never materialized.

Things started to go south in the latter half of 2018 when plans were shelved due to security concerns at the site and repeated theft of mining hardware. DMM also curtailed the planned launch of its crypto trading app Cointap as it downsizes on virtual currencies.

China’s Bitmain is also feeling the pinch as it reportedly fired 80% of its workforce. Fears of running out of cash could result in a selloff of the hordes of cryptocurrencies the company currently holds. The mining industry appears to be declining now as fast as it grew last year in the tumultuous world of crypto, and as we have already witnessed in 2018, what goes up must come down.

Image from Shutterstock
Tweet123Share196ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Litecoin

Litecoin Fate Tied To Bitcoin – Will $96 Resistance Crack?

In a recent X post, CryptoWzrd highlighted that Litecoin (LTC) closed the day on a slightly bearish note. He explained...

Godspower Owie 9 hours ago
crypto

Crypto Market Cap On Track To $4.5 Trillion As Q3 Unfolds – Details

Popular market analyst and key opinion leader (KOL) Ted Pillows is projecting the crypto market to hit a $4.5 trillion...

Semilore Faleti 14 hours ago
Ethereum

Ethereum Price Stuck At $2,500: Analyst Says Don’t Trade Until This Happens

The Ethereum price is currently locked in a narrow trading range of around $2,500, with momentum stalling despite the market’s...

Scott Matherson 15 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Top crypto analist: het ideale Dogecoin koopmoment voor kans op 200% rally

Lars Diederiksen 6 minutes ago
Bitcoin

Analyst Shares Bitcoin Cheat Sheet Showing When The Bull Run Begins

Scott Matherson 6 hours ago
Bitcoin

No Need To Panic, Bitcoin’s Peak Still Coming In October 2025 – Analyst

Semilore Faleti 8 hours ago

Premium Sponsors

Press Releases

  • Cryptocurrency is the best way to get rich quickly, easily...

    5 hours ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    12 hours ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    16 hours ago
  • 3 altcoina koje vrijedi pratiti u prvom tjednu srpnja 2025

    16 hours ago
  • XRP Bulls Are Soaring — FINDMINING Rides the Wave to...

    22 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.