Last week Japanese conglomerate, GMO Internet Group has published the results of its work during the first quarter of 2018 fiscal year. During the presentation, the company shared its plans for the sale of the long-awaited 7-nanometer chips for mining bitcoins.

GMO creates two versions of the chip, V1 and V2. The first model is the original prototype. The second version is designed for mass production 7-nanometer mining chip, which the company plans to use for its own needs, and for public sales and cloud mining.

Currently V2 is in the process of development, beginning its mass production scheduled for the fourth quarter of this year.

From the presentation, GMO revised its plans in the mining business since the fourth quarter of last year. The company reported that mining operations that were initially performed on purchased the rig about a month start to run on chips V1, and by October they should be replaced by chips V2. Start rendering services of cloud mining is scheduled for June.

When you can buy a 7-nanometer chips from GMO is not yet known, since the exact release date is yet to be named.

“While we can only say that booking of orders will start in the second quarter, and the launch is expected in the fourth quarter,” — said the representative of the company.

Recall that was founded in the early 90s, GMO Internet in September last year announced the launch of a new venture for the mining of cryptocurrencies. The company started its activities in late December and is currently working in three directions: internal mining; development, manufacture and sale of rigs; and provision of services of cloud mining.

Since the launch of GMO have appeared new enterprises in two countries, and its Herat, which in April amounted to 241 peachesa per second by the end of the year should reach 3000 peachesa per second.

In addition to the mining business, GMO also manages cryptocurrency exchange, Coin and GMO’s planning to launch the cryptocurrency payments.