Japanese tech conglomerate GMO to pay employees in bitcoin
GMO Internet, a multi-billion dollar technology company, has decided to pay its employees in bitcoin. To be added that the tech giant has 4.710 employees.
The company has released an official statement declaring that its employees will have the option to be paid in either bitcoin or in money. GMO Internet will release its new integrated payroll system in short time.
The huge tech company has declared in an official statement:
“The GMO Internet Group has decided to introduce a system that allows part of the salary payment to be received as bitcoin in order to promote ownership of our domestic employees’ virtual currency.”
GMO Internet’s to manufacture its own mining equipment
This year, in October, the company declared that it has long-term plans to compete with other companies on the bitcoin mining industry. GMO Internet has challenged other giants from the market, like Bitmain. Moreover, the company declared then that it intends to design and manufacture its own ASIC miners and mining equipment.
GMO Internet has declared:
“We will use cutting-edge 7 nm process technology for chips to be used in the mining process, and are currently working on its research and development with our alliance partner having semiconductor design technology to realize high performance computer for mining. It will be possible to reduce power consumption compared to the existing mining machines with the same performance, and achieve a computational performance of 10TH/s per chip.”
After talking about the new form of paying employees, the company also came with a new declaration saying that it will move its mining center and operations to Northern Europe to take advantage of the regions’ naturally cold climate.
This way, the company will prevent the ASIC miners and bitcoin mining equipment from overheating. GMO Internet also declared that in the upcoming months, the company will allocate approximately 10 percent of its capital to improving its cryptocurrency exchange.
It is very important that companies like GMO are interested in integrating bitcoin into their payroll system, because this can be a huge push for others to follow.
