GMO Internet has announced a launch date of August 2018 for its new cryptocurrency cloud-mining service, \"Z.com CloudMining\".

GMO Internet Group is a multi-billion dollar, Japanese-based, internet technologies and services provider. They run multiple subsidiary operations covering numerous technology services, including internet infrastructure, internet securities, and cryptocurrency mining.

Z.com CloudMining will involve the development of a cryptocurrency mining facility using next-generation mining chips: the 7nm semi-conductor chips, widely touted as a game changer within the cryptocurrency miningcommunity. The mining facility will use the SHA256 algorithm, so will be able to mine bitcoin and bitcoin cash.  Business customers will be able to rent the facility for mining cryptocurrencies. It comes at a considerable cost, though, with upfront fees of $5m for a 2-year contract. Customers will be able to keep the mined cryptocurrency but will pay separate management fees to cover running costs. 

Business customers who wish to use the cloud mining facilities can apply from March 2018. GMO will also be opening applications for spaces on their information seminars, which will provide further details for potential customers. GMO will be holding the information sessions in nine cities across the world, including London, Frankfurt, and New York.

GMO is also considering opening the facility to private individuals who may not have the capital to undertake the business contract.