Japanese e-commerce giant DMM.com is reportedly exiting the cryptocurrency mining business due to “deteriorating profitability,” local media reported. This news follows an announcement by another major Japanese company, GMO Internet, that it will no longer manufacture and sell mining machines, citing similar reasons.
Out of the Mining Business
Japanese entertainment and e-commerce giant DMM.com Inc. is reportedly exiting the cryptocurrency mining business, according to local media. Toyo Keizai publication reported on Dec. 30 that DMM made a decision to exit the crypto mining business since September. “Deteriorating profitability is the main cause,” the publication quoted the company as saying, elaborating: