Squire Mining Ltd has named Samsung Electronics as foundry partner in the manufacture of its next generation ASIC chips. The announcement, which came on Tuesday, also disclosed that the company has chosen Ganochips as designer.
Squire Mining’s 10nm ASIC chip is intended for Bitcoin mining as well as other related cryptocurrencies such as BTC. Utilising wafer process technology, the new chip will undergo a mass production test run by Samsung Electronics. Squire expects to complete a working FPGA prototype of its ASIC crypto mining chip by September 30, 2018.
‘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 and other associated cryptocurrencies… 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.’
Squire made the transition from physical to crptocurrency mining back in August 2018, securing C$ 25.5 million in equity financing to fund its dramatic change of business model.
The company’s planned ASIC chip will eventually be used in a crypto mining rig, which will developed once the FPGA prototype has been completed.
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