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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • 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: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

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

Ethereum

Ethereum Mirrors Bitcoin Post ATH Movement, As Market Bears Target 20% Correction

Popular crypto analyst and key opinion leader Ted Pillows has outlined an insightful trend in the Ethereum (ETH) market amidst...

Semilore Faleti 7 hours ago
Bitcoin

New Peak: Bitcoin Mining Difficulty Soars To 135 Trillion

Bitcoin’s mining math hit a fresh high this week as the network’s difficulty climbed to a new all-time peak of...

Christian Encila 7 hours ago
Cardano koers alarm: technische analyse geeft ADA koers 10x signaal

Cardano koers alarm: technische analyse geeft ADA koers 10x signaal

De afgelopen week zag Cardano een daling van ruim 6%, maar volgens technische signalen is er een andere wind op...

Lars Diederiksen 9 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

Dogecoin ETFs kunnen volgende week starten - meme coin miljonair seizoen?

Dogecoin ETFs kunnen volgende week starten – meme coin miljonair seizoen?

Lars Diederiksen 28 minutes ago
Bitcoin

Bitcoin STH-SOPR Metric Reclaims Critical Level — More Pain For Short-Term Holders?

Opeyemi Sule 3 hours ago
XRP

Why $50 XRP By December 2025 Isn’t ‘Hopium’ If ETFs Get Greenlight: Analyst

Christian Encila 5 hours ago

Premium Sponsors

Press Releases

  • ドージコイン 今後4ドル到達の可能性、新興ミームプロジェクトが200万ドルICOに迫る

    ドージコイン...

    16 hours ago
  • 仮想通貨おすすめ:新興レイヤー2プロジェクトがプレセールで1,420万ドル突破

    ...

    16 hours ago
  • シバコイン 今後の可能性と、新たに浮上する注目のレイヤー2プロジェクト

    シバコイン...

    16 hours ago
  • ビットコイン 今後の展望:長期眠っていたBTCウォレットが突然52億円分を移動

    ビットコイン...

    18 hours ago
  • パイネットワーク 価格分析:バンド収束から爆発的上昇の可能性、ウォルコフ指標が点灯

    パイネットワーク...

    19 hours ago

Newsletter

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.