As bitcoin a recognized way to pay

As announced recently GMO Internet Co (GMO), originally based in Japan, has begun mining digital currency in a location in Northern Europe. GMO’s plan to start mining operations in Europe was first revealed in September of 2017. The Tokyo firm said its investment was going to go over $3 million and that the mining would start in the early months of 2018. At the time of the statement, representatives of the company expressed their belief that virtual currencies like bitcoins will be the basis for a new generation of currencies which will be universal. As such, these new currencies will offer a freedom of use not seen so far. They continued by saying that there will be no region or country exempt from making transactions. When these statements were released,  this billion dollar mammoth already had its own fully operational exchange. The service started just a few weeks after the Japanese government put forth new rules and regulations which made bitcoin a recognized way to pay somebody for their goods or services. Wanting to get ahead of the game, GMO stepped up its efforts and started up the above-mentioned business focused on crypto mining. This new venture is going to employ current mining technology in a number of different location all across the north of Europe. The company also plans to slowly expand their capacity, not all at once, but in manageable steps. Their choice of location seems to be tied in with the presence of abundant clean and renewable electric energy. No details are known about specific locations as of yet, but GMO has stated that their target for mining will be 500 PH/s. Further plans for development have been unveiled by GMO who is riding on a wave of success. Namely, they have an unnamed partner who will assist them in research projects that aim to bring new models of mining electronics into the game. The boards intended for crypto mining will feature 7-nm nodes.GMO wants to first beef up its mining experience and then redirect more resources into new ventures. For instance, they plan on offering a service for cloud mining in the future. But their most important project will be the production and sale of mining chips and motherboards which should feed the market need for specialized mining equipment. The tech giant was in the news lately when they revealed that their employees would be able to withdraw a part of their salary in Bitcoin. The company believes this will help with the adoption of cryptocurrencies around the world. They are one of the leaders when it comes issuing wages in decentralized digital money. And, with almost 5,000 employees working for them full-time, this move is already drawing attention. Moreover, it is legitimizing Bitcoin and its competitors after so much negative news reports about crypto money being used for illegal activity.