The rising popularity of cryptocurrencies in Japan has attracted yet another established business, with e-commerce and digital services firm DMM announcing a new mining venture.
As well as the mining farm operation, DMM is also launching its own mining pool and cloud mining service through which it will sell hashrates to outside buyers. It is not immediately apparent which cryptocurrencies will be mined, though an explainer singled out bitcoin and ethereum.
Further, while it provided no details regarding the source of the mining hardware or how much capacity it plans to create, DMM did say that it "will be one of the 10 largest mining farms in the world" in 2018, with plans to eventually reach a top three ranking.
DMM, founded in 1999, is led by billionaire Keishi Kameyama and got its start in the pornography business before expanding to a range of e-commerce and digital services. Notably, the company also has a subsidiary that is the second largest forex company in the world by trading volume, according to figures from 2014.
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