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

Investor Recap

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 www.otcmarkets.com.

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.  

13 Comments
  1. Gamster M. 3 weeks ago
    Reply

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

    • Lilly Mai 2 weeks ago
      Reply

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

      • Franklin Vera 1 week ago
        Reply

        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

  2. Ronald Welts 3 weeks ago
    Reply

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

    • Harold Cooper 2 weeks ago
      Reply

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

      • David Gonsch 5 days ago
        Reply

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

  3. Peter Alexander 2 weeks ago
    Reply

    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 7 days ago
      Reply

      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 5 days ago
        Reply

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

  4. Jeremiah 6 days ago
    Reply

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

    • David Gonsch 4 days ago
      Reply

      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.

  5. Henry 4 days ago
    Reply

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

  6. Hayden 3 days ago
    Reply

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

Leave a Comment

  • Sponsored Content Release

    FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

    Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the ‘Site’) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For Squire Mining Ltd. financial news dissemination and PR services, FinancialBuzz.com has been compensated thirty thousand dollars by bua capital management. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com .