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Samsung will make Next-Gen ASIC chips: Squire Mining

Squire Mining plans to offer next-generation 10nm ASIC chips. The company revealed that it is collaborating with Samsung Electronics as a foundry partner. Squire and Gaonchips will complete their FPGA ASIC chip prototype by September 30th of this year with Samsung's support.

New ASIC chips to use Samsung Semiconductors

Squire Mining Ltd., (CSE: SQR) announced Tuesday that the company has partnered with Gaonchips and Samsung Electronics.

The company claims that the collaboration will aim to produce next-generation 10nm ASIC chips for bitcoin mining. He will use Gaonchips for their semiconductor design house and Samsung will produce ASIC chips in Korea.

"Our front-end development team of engineers and programmers is currently working with Gaonchips to develop the company's initial ASIC chip to extract Bitcoin Cash, Bitcoin and other associated cryptocurrencies using a wafer process technology that, once confirmed and accepted as conforming to prescribed specifications and criteria, will form the basis of an initial series production test of the Samsung Electronics ASIC chip, "noted Squire.

Squire Partners With Coingeek

The company has recently announced important collaborations. Squire closed its non-brokered private placement equity loan of $ 25.5 million CAD ($ 19.5 million USD) in August.

Coingeek, the blockchain company and the mining pool also announced they will collaborate with Squire. Coingeek said he will use Squire's 10nm chips but will use the Coingeek brand.

They said that they will "be guaranteed the exclusive right to market, promote, solicit, sell and distribute the new ASIC chips and mining facilities of Squire" for the extraction of bitcoin money (BCH).

Samsung enters the industry

It seems that Samsung has decided to enter the ASIC mining industry this year. Evidently they also produced chips for other mining equipment manufacturers.

Innosilicon T2 and T2 Turbo, for example, use the Samsung 10nm chip. In previous weeks, several manufacturers have announced new mining platforms such as Ebang's E-11 series with a 10nm chip.

However, some producers such as Ebang and Canaan have not yet disclosed from which foundry their new architecture derives.

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