Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Despite Huge Revenue Losses, GMO Internet’s Crypto Mining Rewards Rise

Despite Huge Revenue Losses, GMO Internet’s Crypto Mining Rewards Rise

Kelly Cromley by Kelly Cromley
Jan 9, 2019
in Bitcoin News, Market News, News
Reading Time: 2 mins read
0

A report on internal crypto-mining operations was issued by Japan’s GMO Internet Group. The IT giant has officially stated that its overall mining revenue has been steeply hit.

But its monthly BTC mining incentives have consistently increased. In the fourth quarter of 2018, the company posted “extraordinary loss” in its hardware manufacturing business.

RelatedPosts

MovieDOM Reimagines Entertainment with a Decentralized Vision

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

Consequently, GMO said it would “not develop, produce and sell” miners in the future.

The company joined the mining hardware industry only in 2017, making it incredibly short-lived. GMO will, however, carry on with its internal mining operations while it shuts down hardware manufacturing operations. The left over activities will be overhauled and its mining hub will be relocated to a less expensive electricity zone.

While total mining equipment revenues have tanked, the Bitcoin mining incentives of the company has increased over time steadily. With only 21 BTC received in December 2017, it grew by June 2018 to 528 BTC, and in December 2018 to even more than 960 BTC.

The company issued the following statement: “the market’s total hash rate decreased, so our mining share rose and our mining reward expanded.”

It also gives full mining incentive information and hash rate data on other mined cryptocurrency, including bitcoin cash (BCH). The altcoin has provided the company with varying rewards: from 213 BCH in December 2017 to 62 BCH in June 2018, increasing to 875 BCH in October before declining to 400 BCH in November 2018.

GMO has asserted that its cryptomining activities will be no longer reported monthly. Instead, it will publish the results as part of its quarterly profit announcements.

At the end of 2018, the company took a creative turn, offering to pay its staff in Bitcoin. Paying in Bitcoin meant a 10% plus incentive on the regular salary of the employee when the employee chose Bitcoin.

Previous Post

Ethereum Classic Team Deny Double Spend, 51% Attack

Next Post

Altcoin Nano Slapped With Another Lawsuit Over $170mln BitGrail Hack

Related Posts

moviedom reimagines entertainment with a decentralized vision

MovieDOM Reimagines Entertainment with a Decentralized Vision

by Kelly Cromley
May 18, 2025
0

The entertainment landscape is witnessing a major transformation with the launch of MovieDOM, a blockchain-powered platform that promises to revolutionize...

cdari and laika ai unite to strengthen web3 e-commerce

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

by Kelly Cromley
May 18, 2025
0

CDARI, a Web3 e-commerce platform operating on the AI-powered Layer 2 network Matchain, has officially announced a strategic collaboration with...

funtasy joins aptos: a new era for blockchain game launches

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

by Kelly Cromley
May 18, 2025
0

The Aptos Blockchain ecosystem recently expanded with the integration of Funtasy, a fantasy gaming platform focused on streamlining blockchain game...

palmistry meets web3: sft blockchain taps ai for digital self-discovery

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

by Kelly Cromley
May 18, 2025
0

In a recent announcement shared on social media platform X, the SFT Blockchain revealed a strategic alliance with PalmCode, a...

solv protocol launches yield-bearing btc token on avalanche

Solv Protocol Launches Yield-Bearing BTC Token on Avalanche

by Kelly Cromley
May 17, 2025
0

Solv Protocol has taken a major step in expanding the utility of Bitcoin by introducing a yield-generating token—SolvBTC.AVAX—on the Avalanche...

david goyer unveils web3 sci-fi universe ‘emergence’

David Goyer Unveils Web3 Sci-Fi Universe ‘Emergence’

by Kelly Cromley
May 17, 2025
0

Renowned filmmaker David Goyer, best known for his screenwriting work on the Blade trilogy, The Dark Knight, and Apple’s Foundation...

Next Post
Altcoin Nano Slapped With Another Lawsuit Over $170mln BitGrail Hack

Altcoin Nano Slapped With Another Lawsuit Over $170mln BitGrail Hack

  • blackrock invests in colle web3

    COLLE: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • XRP Ledger Embraces Precious Metal-Backed Stablecoins with Meld Gold Partnership

    by Kelly Cromley
    Oct 2, 2024

Recent News

moviedom reimagines entertainment with a decentralized vision
Market News

MovieDOM Reimagines Entertainment with a Decentralized Vision

by Kelly Cromley
May 18, 2025
cdari and laika ai unite to strengthen web3 e-commerce
Market News

CDARI and Laika AI Unite to Strengthen Web3 E-Commerce

by Kelly Cromley
May 18, 2025
funtasy joins aptos: a new era for blockchain game launches
Market News

Funtasy Joins Aptos: A New Era for Blockchain Game Launches

by Kelly Cromley
May 18, 2025
palmistry meets web3: sft blockchain taps ai for digital self-discovery
Market News

Palmistry Meets Web3: SFT Blockchain Taps AI for Digital Self-Discovery

by Kelly Cromley
May 18, 2025
solv protocol launches yield-bearing btc token on avalanche
Market News

Solv Protocol Launches Yield-Bearing BTC Token on Avalanche

by Kelly Cromley
May 17, 2025

Categories

  • Altcoin News
  • Analysis News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market News
  • News
  • Ripple News
  • Solana News

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • VPN Friendly Casinos
    • New Crypto Casinos
    • Offshore Online Casinos
    • Best Crypto Casinos Reddit
    • Bitcoin Poker
    • Bitcoin Betting Sites
    • Bitcoin Bingo

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree