The Buzz Surrounding Squire Mining Ltd. (OTCQB: SQRMF) (CSE: SQR)

Investor Recap

Squire Announces Appointment of New Executives and Board Members

Squire Mining Ltd. announced the appointments of two new Directors and the subsequent appointment of three accomplished executives to its leadership team. Given the recent successful milestones achieved by the Company, specifically related to progress with the development of Squire’s next generation ASIC chip and mining rigs for Bitcoin Cash (BCH), Bitcoin Core (BTC) and associated cryptocurrencies, the Board has undertaken to establish a market leading executive team to help evolve the Company from a research and development business to include an international sales and marketing group focused on launching our next generation Bitcoin mining rig to Squire’s exclusive distribution partner,

To undertake this next phase in corporate growth, both Taras Kulyk and Marco Strub have been appointed to the Board of Directors of the Company (the “Board”).

Taras Kulyk has spent his career in venture capital, banking, and technology.  Most recently, Mr. Kulyk led the CoinGeek Mining and Hardware team where he oversaw the development and growth of one of the largest crypto mining fleets globally. Before joining CoinGeek, Mr. Kulyk was part of Decentral’s leadership team in Toronto, Canada. Prior to this, Mr. Kulyk spent three years in investment banking at CIBC World Markets and BMO Capital Markets in the resources sector, followed by two years with TD Securities with the Communications, Media and Technology team, where his coverage focus was on the Canadian tech and media sectors. He is a graduate of Osgoode Hall Law School at York University where he received a Juris Doctor with a focus in Banking, Corporate, Finance, and Securities Law, and earned his MBA, with distinction, with a specialization in Finance and Strategic Management from the Schulich School of Business.

Marco Strub has over 25 years of experience as an entrepreneur and executive in the financial services and consulting sectors. Since March 2003, Mr. Strub has been the Principal and Chief Executive Officer of Sircon AG, a portfolio management company based in Zurich, Switzerland. Prior to this, Mr. Strub served as a Partner of Exulta AG from 1997 to 2003. He has been an Independent Director of numerous private and publicly listed companies, including Triumph Gold Corp and ZincX Resources Corp, listed on the TSX Venture Exchange. Mr. Strub received a Master of Arts degree from the University of St. Gallen, Switzerland in 1982.

The foregoing appointments fill vacancies on the Board as David Rokoss and Garry Stock have each resigned as directors of the Company. In connection with such appointments, the Board has granted 200,000 options to Mr. Stock at an exercise price of CAD 0.4250, exercisable for a term of one year from the date of grant. The Board wishes to thank both Mr. Rokoss and Mr. Stock for their many contributions to the Company, and wishes them well for the future.

Following the above appointments, the Company is pleased to announce that the new Board has appointed Mr. Kulyk as Chief Executive Officer of Squire. Mr. Kulyk will lead the Company as it aims to become an international leader in the development, production and sales of leading cryptocurrency mining technology. Simon Moore, Squire’s current CEO and Chairman has stepped down effective immediately to facilitate the transition. The Company sincerely appreciates the leadership and dedication Mr. Moore has provided, guiding the Company from its early conceptual stage to its current form.

Joining Mr. Kulyk at the executive level will be Yevgeniy Meshcherekov, who has been appointed Chief Financial Officer (CFO) of the Company. Mr. Meshcherekov is a Chartered Professional Accountant with more than 15 years of management experience in industry and public practice. He has demonstrated financial and organizational leadership in the wealth management, blockchain technology and fintech sectors within operations spanning Canada, Europe and Asia. Prior to joining Squire, Mr. Meshcherekov was Director of Finance of the nChain Group, a global leading blockchain research and development company. Previous to that he was Director of Finance of nTrust Technology Solutions Corp., a regulated money transfer platform which evolved into a Bitcoin wallet and exchange. He started his career and gained extensive experience through a Canadian audit firm providing tax, reporting and accounting assurance services to private and publicly traded companies. Mr. Meshcherekov has board and committee level experience, having recently served a three year term on the board of a local not-for-profit organization. Mr. Meshcherekov replaces Rich Wheeless, the current CFO of Squire, who has resigned effective today.

Additionally, the Company is pleased to announce that Angela Holowaychuk has been appointed as its Chief Operations Officer. Over the last 15 years, Mrs. Holowaychuk has found herself at the forefront of emerging technologies, holding senior management positions leading day to day operations, technical development teams and global expansion projects within the fintech, regtech and most recently, blockchain and Bitcoin exchange sectors. Her expertise is building global operations and service channels from the ground up and working closely with legal and regulatory advisers, executives and technology specialists. Mrs. Holowaychuk attended the British Columbia Institute of Technology for Operations and Supply Chain Management.

Richard Underhill has also resigned as an executive officer of the Company.

“I am very excited to be joining the Company at this critical stage of growth,” commented incoming CEO and Director Taras Kulyk. “The team is very excited by the vast potential of our new technology.”

Squire Joins Forces With Electronics Giant Ennoconn, To Manufacturer Next Generation Mining Rigs

Squire Mining Ltd. has contracted Ennoconn Corp. as its hardware manufacturer for next-generation mining systems to mine bitcoin cash, bitcoin and other associated cryptocurrencies. Ennoconn is a leading industrial motherboard designer and total hardware system solution provider headquartered in Taipei, Taiwan and listed on the Taiwan stock exchange (TPE:6414). In 2007, Foxconn Technology Group, the largest “Electronic Manufacturing Service” company in the world, became the majority shareholder of Ennoconn, forming a strong strategic alliance in embedded system and electronic manufacturing.

On August 21, 2018, Squire announced that AraSystems Technology Corp. (“AraSystems”), a subsidiary of Squire, had entered into a provisional non-binding agreement with a major global technology assembly company. This company, now revealed to be Ennoconn, will assist in the design and assembly of our next generation mining rig at such time as a working prototype of our debut ASIC chip is completed.

On October 3, 2018 Squire announced the successful completion and testing of its FPGA working prototype microchip, with early results of the terahash-to-energy consumption ratio, indicating that the final ASIC chip and mining system has the potential to reduce operational costs by up to 40% for enterprise mining facilities.

This cost reduction was estimated by one leading enterprise mining group to be worth up to $60M per year in savings to their operations alone.

The final ASIC chip and mining system together are expected to provide up to a four times improvement in the performance of mining the blockchain, a process that enables miners to be paid, thereby increasing the return on investment, and profit, for miners. Such calculations are based on comparisons with the majority of current generation mining machines operating inside enterprise facilities around the world.

Following this success, the Company has signed a binding Memorandum of Understanding with Ennoconn and funded work to commence Phase 1 design and development of AraSystem’s next generation mining system in collaboration with its partners in Taipei, Taiwan and in Seoul, South Korea. Definitive documentation will be entered into following delivery of final specifications and data sheets to Ennoconn later this month.

Squire’s engineers are currently working with Ennoconn to design and develop AraSystem’s mining rig which will house the debut ASIC chip currently under development by the Company’s subsidiary AraCore Technology Corp (“AraCore”), in conjunction with GaonChips and Samsung Electronics (see news releases dated September 25 and October 3, 2018). In turn, Ennoconn will be responsible for mass assembly of the mining rig once all design, development and testing work has been completed.

A prototype of the mining rig along with full specifications of the AraCore ASIC chip are expected to be presented at the CoinGeek Conference in London on November 28 {A –} 30, 2018, with presales expected to commence on or around that date. Significant interest has already been expressed by several of the industry’s largest enterprise mining companies, which currently host hundreds of thousands of mining machines in their facilities across the world.

“We are very pleased to be partnering with the skilled engineers at Ennoconn, one of the world’s leading electronic manufacturing companies,” stated Simon Moore, Executive Chairman and CEO of Squire. “As we launch our next generation mining rig with a suite of proprietary innovations, it’s imperative that our manufacturing partners have the talent, experience and capacity to not only deliver unique hardware, but also deliver best in class quality. We believe Ennoconn will help ensure the production of an exceptional mining rig for the marketplace” he said. Further, Mr. Moore noted, “based on initial interest from the sector, the potential for significant sales and the subsequent revenue for Squire is on track in the coming year which would make Squire and its partners a noteworthy industry provider of crypto mining hardware and next generation innovation on a global scale.”

Squire Releases Positive Results From First Phase Testing Of New Fpga Prototype Asic Microchip

Squire Mining Ltd. (CSE: SQR; OTCQB: SQRMF) – has released results from its prototype ASIC (applicable specific integrated circuit) chip testing event held in Seoul, South Korea. With executives and board members from Squire, Future Farm, CoinGeek, Gaonchips and Samsung Electronics in attendance, Peter Kim, president of Squire’s subsidiary Aracore Technology Corp., and his team of front-end microchip engineers and programmers, unveiled and tested a working prototype mining system comprising a newly engineered FPGA (field programmable gate array) ASIC microchip that will be converted into Aracore’s first ASIC chip utilizing 10-nanometre technology for mining Bitcoin Cash, Bitcoin and other associated cryptocurrencies. The test results confirm Aracore’s original design specifications indicating that the ASIC chip, once mass manufactured by Samsung Electronics, will be capable of delivering a projected hash rate of 18 to 22 terahash per second (TH/s) with an energy consumption of between 700 and 800 watts.

Taras Kulyk, chief executive officer of CoinGeek Mining and Hardware, said:

“The CoinGeek team is very pleased with the progress of our strategic partners: Squire Mining and Aracore. With this next-generation technology, CoinGeek will continue to pull the blockchain industry out of the proverbial basement and into the boardroom.”

Stefan Matthews, chairman of nChain, one of the industry leaders in blockchain research and development, and a director of Squire Mining, added:

“The early results indicate that this ASIC microchip has the potential to be the next-generation leader in providing hash power for enterprise mining of Bitcoin Cash and other associated cryptocurrencies. It has also demonstrated the potential to rapidly process consensus protocols across the blockchain faster whilst utilizing less energy than anything currently in this sector.”

Hash rate speed and microchip efficiency are the two most important measuring criteria in the crypto mining industry to enable end-users to maximize profitability and return on investment in their day-to-day mining operations.

Simon Moore, executive chairman and chief executive officer of Squire Mining, stated:

“Aracore’s time and investment to date have been validated by the impressive results of this new microchip. Once completed, we believe the speed and efficiency of our ASIC microchip combined with our respective mining systems powered by this Samsung manufactured microchip together have the potential to substantially increase the profitability of enterprise mining facilities around the globe. We look forward to releasing our mining system to the market in the first half of next year through our exclusive distribution partners CoinGeek, and competing for a significant piece of this multibillion-dollar enterprise mining market.”

Squire Announces Samsung Electronics as Foundry Partner to Manufacture ASIC Chips

Squire Mining Ltd. (CSE: SQR; OTCQB: SQRMF) – announced Gaonchips as our design house and Samsung Electronics as our chosen foundry partner to manufacture our ASIC chips in Korea.

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.

Our front-end development team of engineers and programmers is currently working with Gaonchips to develop the Company’s initial ASIC chip to mine Bitcoin Cash, Bitcoin, and other associated cryptocurrencies using a wafer process technology that, once confirmed and accepted as meeting certain prescribed specifications and criteria, will form the basis of an initial mass production test run of the ASIC chip by Samsung Electronics.

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.

We anticipate completing a FPGA prototype of our initial ASIC chip by September 30, 2018.

Squire to Commence Trading on OTCQB Marketplace; Provides Corporate Update

Squire Mining Ltd. (CSE: SQR; OTCQB: SQRMF) – announced that effective at the opening of the market on Wednesday, September 19, 2018, the Company’s common shares will begin trading on the OTCQB Venture Marketplace under the symbol “SQRMF”. 

Rich Wheeless, Chief Financial Officer of Squire, stated today, “Listing on the OTCQB is a significant milestone for Squire. While we will continue to trade on the Canadian Securities Exchange, our OTCQB listing will provide better access to institutional investors and a broader shareholder base while providing our current and future shareholders, particularly those residing in the United States, with easier trading and access to Squire’s shares.

The OTCQB is recognized by the United States Securities and Exchange Commission as an “established public market” and is a leading market for U.S. and international companies in the entrepreneurial and development stage.  To be approved for listing, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. Investors can find Real-Time quotes and market information for the Company on

Squire’s listing on the OTCQB is a key milestone in strengthening the Company’s recent change of business (the “Change of Business”) as a developer of data mining infrastructure and system technology (including ASIC chips and mining rigs) to support the mining of cryptocurrencies including Bitcoin Cash (BCH) and other alt coins such as coins using Segwit technology.  

  1. Gamster M. 7 months ago

    looks like a buying opp, I like the recent increase in volume. May be another big bounce coming

    • Lilly Mai 7 months ago

      Waiting for a pullback, won’t settle for anything above $.60 if I miss it is fine.

      • Franklin Vera 7 months ago

        keep an eye on the volume. Low volume pullbacks are the best because we know that it is only temporary. Watch for heavy buying when this happens

        • Paul Tarr 6 months ago

          picked some up @$.50 wish me luck

  2. Ronald Welts 7 months ago

    how long does it take one miner to mine one bitcoin?

    • Harold Cooper 7 months ago

      depends on the value of $BTC, how do the miners fair on energy consumption?

      • David Gonsch 6 months ago

        yes my only issue is that miners rely on the value of crypto

      • James Lewis 6 months ago

        energy consumption is a factor to determine whether or not mining is worth it and the current value of $BTC

  3. Peter Alexander 7 months ago

    the Crypto market has finally settled, the chip market will rise as well as many are being developed solely to work in the mining rigs

    • Eugene Honders 6 months ago

      honestly that is dependent on whether or not bitcoin makes another push towards and past $10,000. A consolidated market represents stability but does not ensure a rising market afterwards.

      • David Gonsch 6 months ago

        yes my only issue is that miners rely on the value of crypto and this formula will not change

  4. Jeremiah 6 months ago

    Chip companies are performing very well this year, like NVDA and AMD.

    • David Gonsch 6 months ago

      Not sure if developing chips for these miners are why the Chip companies are up. Blockchain can bring sustainability to the mining & metals global supply chain.

      • Zia Marcus 6 months ago

        it can but the big question is can miners retain profitability for the company as bitcoin value consolidates here? Energy consumption and retail space have to be factored into costs

  5. Henry 6 months ago

    Chinese company HUAWEI has launched the AI Chips. There are more competition in the industry.

  6. Hayden 6 months ago

    Smartphones, computers and EVs all need chips. The demand for chips are huge.

    • Eduardo 6 months ago

      AI and data analysis are the future technology, which is rely on the chips.

  7. Khali 6 months ago

    ASIC Chips are dominating the cryptocurrency mining market.

  8. Norman Gabriel 4 months ago

    Nascent markets explode when a prior barrier is broken by technology; what follows is people figuring out the the implications and use cases, and which of them will make the most money. The VCR ended up growing the movie industry where many thought it was the end. Now blockchain?

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