GMO Internet Group

GMO Internet Group is a diversified internet company in Japan, and its cryptocurrency business is conducted through its subsidiaries GMO Coin and GMO-Z.com Trust Company. The core models include: Cryptocurrency Mining: Deploying mining machines using hydroelectric resources in Northern Europe, with an early (2018) computing power reaching 108 PH/s, and a target that was planned to expand to 3,000 PH/s. A new payment system will be launched in 2025, attracting institutional investors through daily profit distribution and emphasizing the use of green energy to reduce carbon footprint. Stablecoin issuance: Issuing GYEN pegged to the Japanese yen and ZUSD pegged to the US dollar, using a 1:1 fiat reserve mechanism, supporting cross-border payments and DeFi applications. GYEN is the first Japanese yen stablecoin approved in New York State and can be traded on platforms like Coinbase. Blockchain Investment: Layout blockchain infrastructure through venture capital, such as investing in Layer-2 scaling projects and digital asset custody services. Subsidiary GMO-Z.com Trust Company collaborates with Komainu, Hex Trust, and others to provide institutional-grade custody services. Game Ecosystem Integration: Develop a Bitcoin-based game reward system called CryptoChips, where users can earn Bitcoin through in-game rankings or tasks, exploring the application of blockchain technology in the entertainment sector.

Mining Revenue: Profits are earned through block rewards and transaction fees. Data from 2018 shows that 240 bitcoins and 525 bitcoins cash were mined within 3 months, worth approximately 3.3 million dollars. In 2025, cloud mining services will be launched, allowing users to earn daily revenue by purchasing hash power contracts; for example, a contract investment of 5,000 dollars can yield a daily income of 76 dollars. Stablecoin transaction fees: GYEN and ZUSD charge a fee of 0.1% - 0.5% for issuance, exchange, and cross-border transactions. As of July 2025, the circulation of GYEN is approximately 13.8 million USD, mainly used for cross-border remittances and cryptocurrency trading hedges. Investment return: Profit from the appreciation of equity and tokens in blockchain projects. For example, the Caldera (ERA) token invested in saw a weekly increase of 40% in 2025, indirectly driving the appreciation of group assets. Energy arbitrage: Utilizing low-priced hydropower in Northern Europe for mining, with electricity costs below the industry average, the mining business recouped its investment within 3 months in 2018.

Financial diversification: The cryptocurrency business accounts for 12% of the group's profits (2024 data), hedging against risks in traditional internet business. For example, during the Bitcoin price surge in 2025, mining revenue offset the slowdown in the growth of the domain registration business. Technical Collaborative Innovation: Blockchain technology feeds back into traditional businesses, such as Arweave's permanent storage technology being used for archiving oil exploration data, reducing centralized storage costs. Market influence enhancement: As Japan's first publicly listed company to engage extensively in cryptocurrency, the launch of its stablecoin GYEN fills the gap in the digitization of the yen and is seen as an important part of Japan's Web3 strategy. Green Energy Benchmark: The mining business has been designated by the Norwegian government as a "green computing power" demonstration project, enhancing the company's ESG rating and attracting investors focused on sustainable development.

Bitcoin ( BTC ): Demand-side pull: Early mining activities directly increased the market demand for Bitcoin, with 240 Bitcoins mined within 3 months in 2018, providing short-term support for the coin price. Energy - Financial Closed Loop: The green mining model enhances Bitcoin's "environmental attributes," attracting ESG investors and promoting long-term valuation increases. Stablecoin GYEN/ZUSD: Cross-border payment bridge: GYEN supports real-time settlement in Japanese yen, reducing cross-border remittance costs (fees are 80% lower than traditional banks), promoting the circulation of yen in the cryptocurrency field. Compliance Demonstration Effect: GYEN, as the first yen stablecoin regulated by the state of New York, provides a compliance model for other fiat stablecoins and promotes the improvement of the regulatory framework. Other cryptocurrencies: There is no public information showing direct holdings of ETH, SOL, etc., but there is indirect participation in the Ethereum ecosystem through investments in projects like Caldera (ERA) and Arweave (AR), promoting the liquidity of related tokens.