Japanese conglomerate, GMO Internet Group has published a report on the results of operations for the first fiscal quarter of 2018 and detailed information about plans to start sales of 7-nm chips for mining crypto currencies bitcoin. It is reported Bitcoin.com.

The company is developing two GMO versions of these chips, V1 and V2. The first one is a prototype. The second version will have a full product intended for use on their own equipment, and still for the global market, as well as for use in cloud mining services.

Currently, active work is underway on the V2 chip, the start of mass production scheduled for the fourth quarter of this year. In your mining equipment GMO plans to use the V1 chip in June, and around October the company will use for mining bitcoin chips V2.

Also, the company noted that the launch of cloud services is planned in June.

Below are the timeline of the plans of the GMO Internet Group:

Information about the GMO plans to invest $320 million in the mining industry and intent on designing its own chips new generation appeared in the early autumn of last year.

According to representatives of the GMO Internet Group, chips technology 7-nm four times more energy efficient widespread currently 16-nm chips.

ForkLog also previously reported that until the end of the year the GMO Internet Group is planning to increase mining capacity by more than 10 times.