Squire Mining Ltd. the Canadian based company has collaborated with Samsung as the manufacturer for its ASIC chips for Bitcoin mining and Gaonchips as the firm responsible for its cryptocurrency mining chipset.
According to a press statement published by the Squire Mining Ltd, the manufacturing of the same will take place in South Korea. A portion of the announcement states:
On August 1, 2018, we announced that Squire had engaged an undisclosed arm’s length design fabrication firm to perform the back-end design, testing, and initial mass production run of our next generation ASIC chip for mining Bitcoin Cash, Bitcoin, and other associated cryptocurrencies. We are delighted that we are now able to disclose Gaonchips as our design house and Samsung Electronics as our foundry partner.
Gaonchips will work in accordance with Squire’s programmers and developers. Squire and Gaonchips, together aims to pioneer the utilization of ASIC chips in Bitcoin mining using wafer process technology. Once the duo reaches an acceptable design, Samsung will get involve and produce the ASIC chips for preliminary testing. The proposed development roadmap was disclosed in the public statement, the company commented:
In addition, once a working FPGA prototype of our initial ASIC chip is developed, we will be able to aggressively accelerate the design and development of our initial mining rig for Bitcoin Cash, Bitcoin, and associated cryptocurrencies.
Samsung began the mass production of ASIC miners from the start of the year. The South Korean electronics behemoth intention is to challenge Bitmain’s rule over the cryptocurrency hardware manufacturing market. The latest collaboration also sinks into their plan of becoming a giant in cryptocurrency hardware as well.
Squire Mining Ltd. announced the development of ‘next generation’ 10nm ASIC chips in August this year. The company partnered with Peter Kim at the time to birth a new company responsible for the ASIC chips development project. The plan for creating a second next-generation ASIC chip is also in the pipeline. Apart from its proposed Bitcoin mining endeavor, Squire also plans to sell cryptocurrency mining hardware.
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