Extra, Extra, Read All About It: Jihan Wu Spotted With GMO Internet CEO In Welcome Tweet Message
Jihan Wu And GMO Internet CEO Meet And Share Their Views About The Crypto Market
Jihan Wu, the former CEO of Bitmain, the largest manufacturer of ASIC miners for Bitcoin (BTC) and other digital currencies has recently met GMO Internet CEO, Masatoshi Kumagai. Mr. Kumagai shared a picture of the meeting on Twitter on March 1st.
— 熊谷正寿 (@m_kumagai) March 1, 2019
Is Jihan Wu Moving To GMO?
Clearly, one of the main questions that arose after this meeting is what is Jihan Wu doing with GMO’s CEO. Back in 2018, GMO Internet entered the crypto mining market using its technology to release better mining hardware. They launched the B2 miner made in Japan and using 7nm semiconductor chips.
The B2 costs $1,999 and it offers 24 TH/s. Meanwhile, Bitmain’s S9 costs $837 and it offers 14 TH/s. The CEO of GMO Internet said that he respects Bitmain but they “will top them.”
GMO unveils Japan's first-ever Bitcoin mining chip B2:
🛒$1,999 (vs $837 for Bitmain's S9)
⚡️24TH/s (vs 14TH/s for S9)
🇹🇼Designed in JP, produced in TW
🔌1,950w per unit
📅Reservations start June 6, ships by Oct end
👨💼CEO: "I respect Bitmain, but we will top them" pic.twitter.com/m04WGBX1jf
— Yuji Nakamura (@ynakamura56) June 5, 2018
Bitmain has almost 80% of the current mining market, a very large market share that seems difficult to surpass. However, Bitmain has been experiencing some issues during the last months. Since Bitcoin and virtual currencies dropped from their all-time high, the mining market became more competitive and less profitable.
Although there is no official announcement on the matter, Jihan Wu could be in touch with GMO Internet for future business agreement. There were some rumors that Jihan Wu started a new company that would be competing against Bitmain. Nevertheless, this remains to be seen.