Japan’s Tech Bureau, a fintech and cryptocurrency solutions group company, today announced a partnership with Looop Inc, a renewable energy company, Crypto Mining Japan Inc., a cryptocurrency mining technology company, and Zaif, Tech Bureau’s cryptocurrency exchange. Separately, Looop and CMJ will utilize resources in the COMSA ecosystem for their ICOs. Tech Bureau’s COMSA platform is an ICO solution for centralized businesses to adopt blockchain technologies, and launch token sales. COMSA is currently running its own ICO, having the total amount raised as of today exceeding 89 million USD equivalent, the Comsa (CMS) token sale will end on November 6th.
Mining Venture Background
Nowadays, it is believed that cryptocurrency mining is best done outside of Japan, in China and other countries, where electric power is cheaper. However, with advanced mining know-how, secure machines, and competitively priced and stable electric power, an opportunity to enter the cryptocurrency mining business at equal or better profitability can exist in Japan.
This project aims to realize that opportunity and contribute to stabilizing the cryptocurrency blockchain network by utilizing Tech Bureau’s cryptocurrency exchange, Looop’s reliable and inexpensive power, and CMJ’s highly efficient mining machines, containers, and know-how.
Stable cheap power
Looop leverages its know-how in the solar power generation field to procure residual power at dramatically lower prices than the market average and will supply it to this new mining business.
Proprietary mining environment
CMJ brings to the venture its proprietary mining container that has high mobility, plug-and-play ease of use, and mining efficiency. It also offers cloud mining services and a mining pool. Among other innovations, this new business will locate Looop’s solar power generation facility on top of CMJ’s mining container to increase thermal insulation, maximize power generation, and mining efficiency on a square meter basis.
Tech Bureau operates the cryptocurrency exchange, Zaif, and will offer cryptocurrency settlement technology to the CMJ mining service. Zaif also provides a liquidation service in which CMJ sells cryptocurrency mined by its machines. In the event of a sudden drop in the price of a cryptocurrency, users can avail themselves of a Zaif derivative to hedge their risk.
Looop and CMJ will execute the new business’s ICOs on COMSA following Tech Bureau’s recent success in selling nearly 90 million USD worth of cryptocurrency in less than a month in its own CMS token sale.
Looop ICO plan
To expand its power generation and mining business, Looop plans to hold its ICO from December, 2017 to February, 2018. Details to be announced soon.
CMJ ICO plan
To fund its mining container development and pool service launch and meet global-scale ambitions, CMJ aims to hold its ICO from December, 2017 to January, 2018. Details to be announced soon.