Overview of the virtual currency mining business, “DMM Mining Farm
1.Operation of a mass-scale mining farm
“DMM Mining Farm” will operate a mass-scale, made-in-Japan quality, mining farm whose operating size will be unmatched by any of the domestic operators. In the future, DMM plans operation that ranks in top three of the world’s mining farm companies in terms of scale. After completion of successful trials in October 2017, “DMM POOL” will be released for world-wide use within the year 2017. During the year 2018, DMM will be one of the 10 largest mining farms in the world.
2 Providing a safe and secure service, “DMM Cloud Mining” (currently in development)
DMM offers “DMM Cloud Mining”, a safe and secure service that enables general public to easily join “DMM Mining Farm” at any time. As one of its advantages over other existing cloud mining services, which are often made overseas, “DMM Cloud Mining” will be operated by DMM, which offers superiority in its reliability and services for which DMM’s distinct reputation attests.
About virtual currency mining
Virtual currencies such as Bitcoin and Ethereum are expected to be the currencies of the next generation as they are not bound by country-specific or regional-level restrictions. There are already over 800 types of virtual currencies in existence in the world. Their market size has grown to the scale of $160 billion. Data of these virtual currencies are maintained by being recorded and updated in a distributed ledger called Blockchain. The recording and updating work of this distributed ledger is called mining. In other words, the mining process contributes to the maintenance of the virtual currency networks being used around the world. To execute the action of this mining process consumes computing resources and electricity, for which there is a mechanism to pay for these resources via virtual currencies as a compensation. Due to its nature for having compatible legal currency and their exchangeability, the virtual currency mining market has been growing rapidly.