Coingeek To Get Exclusive Rights To Squire Mining’s Next Gen 10nm ASIC Chip
Canada-based Squire Mining Partners With Coingeek Giving Exclusive Rights to 10nm ASIC Chip
On August 15th leading mining organization Coingeek announced their partnership with Canada-based Squire Mining Limited. Through this deal, Coingeek will have exclusive rights to Squire’s new ASIC chips and mining rigs that mine bitcoin cash (BCH) and a variety of other cryptocurrencies.
A couple of days back BitcoinExchangeGuide had reported about Squire Mining Ltd. announcing that it has closed a non-brokered private placement equity financing of $19 million dollars in order to fund developing manufacturing and selling data mining infrastructure and system technology. As Squire Ltd. explained, the funds gathered will be used to design, develop, and test the initial generation of ASIC chips and other mining solutions for mining Bitcoin (BTC).
Following this decision, Coingeek revealed the company has entered into a partnership with Squire. The deal will allow Coingeek the right to market, promote, solicit, and sell the new ASIC semiconductors and mining rigs using the Coingeek logo and brand.
Through a public statement, Coingeek explains:
“This next generation equipment is being designed with a projected hashrate that is expected to be significantly faster while utilizing less power than the leading crypto-mining equipment currently available on the market today.”
Notably, Squire Mining Ltd. signed an agreement with Peter Kim to create the company that will develop ASIC chips. This partnership has been approved back on March 14, 2018. Squire Mining Ltd. signed an agreement with Peter Kim to create the company that will develop ASIC chips. This partnership has been signed back on March 14, 2018.
Now, Coingeek intends to showcase the new mining hardware this November during the company’s next conference in London. The firm details that initial sales will be geared towards BCH miners because bitcoin cash has incredible utility as digital money that scales and allows applications that use microtransactions to flourish.