Squire Mining Partners with Gaonchips and Samsung Electronics for Crypto Mining ASIC Chips Production


Squire Mining Limited Partners with Samsung Electronics to produce ASIC chips for Cryptocurrency Mining

Squire Mining Limited released a press statement on September 25th via the GLOBE NEWS WIRE clarifying its status in the soon to be advanced ASIC chips. The news which was initially published in Vancouver, Canada indicated that Squire had settled for Gaonchips to be used as its house design while Samsung will be the strategic manufacturing partner for the ASIC chips.

Back in the beginning of August, Squire had announced that it was involved in developing new ASIC chip technology to mine altcoins like Bitcoin & Bitcoin Cash. This milestone has been in testing to authenticate its ability to deliver the intended mining functionality. Squire has since confirmed via the press release that its ecosystem completeness will be Gaonchip dependent while Samsung will play an important role in production.

At the moment, Squire’s development team comprising of programmers & engineers are trying to integrate Gaonchips for the project to pioneer BTC mining using ASIC chips. In addition, a variety of cryptocurrencies will be mineable using a process known as the wafer tech. This approach means that upon confirmation & acceptance of qualification of the minimum threshold, Samsung will then be able to start production of the soon to be tested ASIC chip.

Furthermore, Squire aims to hasten the development of ASIC chips given their fundamental value in mining crypto coins right now. The firm said that its FPGA prototype development completion would be a break for this project. This is because Squire will in turn leverage this achievement to complete the BTC mining rig as per the speculated time frame or earlier. As it stands, the firm hopes to complete its first FPGA prototype by the end of September 2018 for integration with the ASIC chip.

This news release is based on forward-looking scenarios hence a clarification from the Canadian Securities exchange that they are not in any way responsible for how the market reacts. The future of ASIC chips & BCH, BTC new mining infrastructure is subject to Squire’s & Samsung successful completion of this milestone. Therefore, the information may entail other types of risks given the high volatility within cryptocurrency markets.

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