Japan’s DMM Group Plans Virtual Currency Mining

Announcements, Blockchain, Education, Investing, News | September 11, 2017 By:

Japanese entertainment giant DMM Group has established a Virtual Currency Division and is set to commence operating a virtual currency mining business next month called “DMM Mining Farm.”

The company stated its intention is to become one of the top three mining farm companies in the world.

“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,” the company statement said. “In the future, DMM plans operation that ranks in top three of the world’s mining farm companies in terms of scale.”

DMM added that after completion of successful trials in October, “DMM POOL” will be released for world-wide use within this year.

One of the projects the company is currently working on is “DMM Cloud Mining,” which will seek to offer the public the ability to join the “DMM Mining Farm.”  As one of its advantages over other existing cloud mining services, which are often created outside Japan, DMM Cloud Mining will be operated in-country.

With 27 million users, DMM.com is among the top 25 websites in Japan, and offers a varied marketplace that sells everything from online games to smartphones, digital books, online English lessons and more. In March, 2016, DMM started accepting bitcoin payments through Japanese bitcoin exchange Coincheck.