ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

DMM.Com To Cease Mining Crypto

By

Nathan

Graham

WriterETHNews.com

The company cites declining virtual currency prices and increased competition as the reasons behind the change.

On December 30, the Japan-based online marketplace DMM.com announced it will cease mining cryptocurrency after just over a year in the business, according to an article in Nikkei. The e-commerce company will reportedly stop mining cryptocurrency due to the recent price slump, which, along with stronger competition, has decreased profitability. DMM.com had launched its virtual currency division in October 2017 with the intention of creating one of the largest mining farms in the world.

Additionally, on December 25, DMM.com Group announced it was canceling the release of its crypto trading app, dubbed Cointap. However, the announcement does state that the DMM group will still offer "virtual currency trading services" on its DMM Bitcoin exchange platform. According to Nikkei, DMM founder Takashi Kameyama stated that he will "work hard" on improving the exchange platform.

Several mining participants in the Japan and Asia cryptospheres have felt the sting of crypto winter. Just last week, Japanese IT company GMO Internet announced it would no longer manufacture or sell mining rigs, citing an "extraordinary loss" to the company's bottom line. The same day, it was reported that crypto mining giant Bitmain, which is based in China, would be laying off some staff.

Translations by Google.

Nathan Graham

Nathan Graham lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest DMM.com, Bitmain or other Ethereum world news.