Squire Mining – Providing Next Generation Chip ASIC Microchip and Cryptocurrency Mining Rigs

Providing Next Generation ASIC Mining Circuits and Mining Cryptocurrency

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Overview

Squire Mining Ltd. (CSE: SQR) is a Canadian based cryptocurrency mining company focused on the development, production and sales of data mining and system technology. Their products support global blockchain applications in the mining space, including Application Specific Integrated Circuit (ASIC) chips and next-generation cryptocurrency mining platforms.

Since Bitcoin was introduced in 2009, the cryptocurrency market has grown to include different types of tokens. Most cryptocurrencies are managed through a decentralized network, or blockchain, where other users, known as miners, validate the transaction. Miners compete against each other for just-beaten currency by solving cryptographic enigmas that determine who transcribes transactions on the block. To do this, companies involved in the extraction of cryptocurrencies require equipment that can be extracted continuously.

Establishing the industry standard, Bitmain cryptography giant is the mining infrastructure and the indicator of system technology for how the development of cryptographic technology, producing ASIC chips and cryptocurrency mining platforms. Bitmain generated $ 2.5 billion in revenue in 2017 and posted a net profit of $ 1.1 billion in Q1 2018. Currently, Bitmain is preparing for its IPO as a company listed on the Hong Kong Stock Exchange in Q4 2018 or in Q1 2019 and has a pre-IPO rating of $ 14 billion according to in Forbes.

Trying to enter the same space, Squire is currently testing the prototypes of 10-nanometer ASIC chips and cryptographic platforms. Squire has signed an exclusive distribution agreement with Coingeek.com, which is subject to minimum purchasing requirements and will be responsible for marketing, solicitation, sale and distribution of the new chip and ASIC extraction system of Squire in the Coingeek.com brand. Once these products are placed on the market, the company will devote its attention to the development of chips or systems of seven or eight nanometers that will address the problems that other seven-nanometer systems are facing.

Highlights of the company

  • Exclusive distribution agreement signed with Coingeek.com with minimum purchasing requirements
  • It will release the last 10 nanometers rigs and ASIC chips in the fourth quarter of 2018.
  • Sales of drilling rigs will start in 2019. [19659016ThemarketofthetankwithanincreaseofaCAGRofthe372%willprofit US $ 7.59 billion in revenue by 2024.
  • Management has experience in marketing, branding and raising capital.

Cryptocurrencies

Cryptocurrencies are decentralized and encrypted tokens that can be exchanged between users across a network. Transactions between users are validated on a decentralized public registry, or blockchain, by other users on the network.

From the emergence of Bitcoin in 2009, the cryptocurrency market has developed into a comprehensive sector that includes numerous cryptocurrencies, such as Ethereum, Litecoin and Dash, which are hosted and managed within blockchain networks. Cryptocurrencies have seen significant growth as they gain more traction and many sectors, such as the banking, financial, and mining sectors, are starting to adopt blockchain technology solutions.

Cryptocurrency mining

While cryptocurrencies gained popularity, new companies were emerging that focused on the extraction of large-scale cryptocurrencies. These companies make money by solving cryptographic enigmas placed in a block and then verified by other miners. Once this is done, the miner who solved the puzzle receives a part of the cryptocurrency that is treated. To implement large-scale operations of this type, miners require hardware and software dedicated to the task's height.

Sensing the need for equipment in the growing cryptocurrency space, companies like Bitmain have worked on the development of mining activities. algorithms and software that can solve cryptographic puzzles quickly and effectively. The software lives in specialized hardware called "rigs", which are designed to run continuously so they can be extracted 24 hours a day, making it an "eight months to a year" life cycle for Squire Mining rigs EVP Richard Underhill.

To help extend the life of the platform, certain conditions must be met to ensure optimal performance. The platforms must be in a cool environment to avoid overheating, supported by high-speed Internet and should be located in jurisdictions with low energy costs to ensure profitability. With these three factors in mind, the jurisdictions such as Iceland, Venezuela and Georgia are becoming increasingly popular for the development of cryptocurrency mineral warehouses. Currently, approximately 73.12 terawatt hours of value are dedicated to cryptanalysis extraction operations worldwide.

The market proved to be profitable. By 2017, Bitmain generated revenue of $ 2.5 billion, of which approximately 96% of revenue was derived from sales of its mining platforms. Their Antminer line of drillers represents about 85% of the mining platforms sold globally.

Blockchain

Blockchain is a decentralized electronic system for processing and registering transactions, which allows various users to keep track of information uploaded to the system. Blockchain can provide transparency, ease of access and legitimacy to transactions in various sectors. Because of the variety of its applications, the blockchain market is expected with a CAGR of 37.2% and will generate 7.59 billion dollars in revenue by 2024, according to a report by Grand View Research Inc .

While blockchain technology was originally invented as a transaction record for Bitcoin miners, technology applications are expanding into other sectors. While analysts question the longevity of cryptocurrencies, other blockchain applications are emerging, including supply chain monitoring and validation for the food and cannabis industries, smart solutions in the financial services sector, and more.

Products

Squire develops the cryptocurrency of the equipment the miners must perform their operations. Squire is currently testing its 10-nanometer ASIC chip and rig prototype. The expected timing for the development of chip and rig Squire is as follows:

  • End of September 2018: prototype chip tested
  • Q4 2018: 60,000 chips tested in prototype plants
  • November 2018: launch of the rig at the conference of Coingeek
  • Q4 2018: start of the series production of the chip
  • Q1 2019: start of the production of rig
  • Q1 2019: start of the rig sales

After Squire has started to distribute its 10 nanometers of microchips and cryptographic platforms, the company will devote its attention to the development of microchips and cryptographic platforms seven or eight nanometers.

Partnerships

Coingeek.com

In August 2018, Squire entered into an exclusive distribution agreement with a member of Coingeek.com, the world's largest bitcoin liquidity miner. The distributor will market, solicit, sell and distribute the new chip and the Squire ASIC mining system to cryptocurrent miners under the Coingeek.com brand. The distribution of chips and data mining systems is subject to minimum purchasing requirements for a period of three years, which can be extended to five.

Squire is currently committed to consolidating a couple of production agreements with microchip and technology companies to ensure that they provide cryptocurrency miners with a quality product.

Management

Simon Moore – Executive Chairman and CEO

Simon Moore has over 30 years of experience in business and strategic management and entrepreneurship, working in various industrial sectors and in public and private companies. Basic strategic planner, has extensive experience in digital innovation, technological development and workflow transformation. This includes sales management, education and training, venture capital, project management, cross-functional business leadership, branding, marketing, advertising and communication.

Moore is the founder and former CEO of two Australian digital advertising agencies, president of a cloud integration company and retired CEO of one of Australia's largest e-learning development companies. Moore was an executive sought in execution and business management. He was responsible for the creation of training programs used in the resource sector, the development of basic training programs and the construction of BHP Billiton, BHP Mitsubishi Alliance, BHP Mitsu Coal and Arrow Energy, to name a few.

Moore holds a Master of Business (research) from Queensland University of Technology, Australia.

Richard Underhill – Executive VP

Richard Underhill is an award-winning producer, writer and director of independent films and television networks. He was responsible for producing over 600 hours of online television and four feature films covering a 15-year career in the entertainment industry. Underhill has independently created and developed 40 TV projects with various sales to VH1, TLC, Discovery, Sony, Universal and Newline Cinema.

To witness the success of sales and the execution of Underhill projects, he was directly responsible for creating the brand and marketing campaigns for each individual project that works with some of the best branding and marketing departments. 39; Hollywood industry. In addition, Underhill has founded and developed two mobile technology platforms and successfully raised millions of dollars in private funding to bring its technology and multimedia projects to market.

Richard Wheeless – CFO

Rich Wheeless is an experienced financial executive with 15 years of financial leadership experience. Most recently, he was Chief Financial Officer of the security software company Rivetz, Inc. Previously he was Chief Financial Officer of LaunchKey, Inc. which was acquired by Iovation.

Wheeless has made several successful turnarounds for Ohio-funded State of Society under the administration of Governor John Kasich. In addition, he held management positions in Canada, the United States and the United Kingdom. His global experience is invaluable for his role. He initially began his career in the private equity division at Citigroup. Whein holds an MBA in finance with honors from the University of Otterbein.

Justin Corinella – Head of Technology

Justin Corinella is the co-founder and CTO of Dahrwin, a network of meshes, a communication technology company; with three patents issued and many others pending. Corinella is the main inventor of this technology, which is praised by many as an incredible leap forward and revolutionary for the wireless network that allows in particular to any mobile device to connect directly and securely for communication without access to the Internet or cellular infrastructure.

In 2010, Corinella collaborated with several high-level venture capital companies to create Dahrwin LLC in an attempt to build the technology it offers today. The technical team, led by Corinella, has constantly worked to improve functionality, expand the scope of use of the sector and improve the stability of the Dahrwin network with proven success.

Through his efforts, Corinella has refined his knowledge and skills, all of which started in the fields of data storage and communication. His profound knowledge of wireless technology and communications has positioned him as a leader in multiple research and development and engineering departments working on various military and governmental technologies. Corinella is a respected innovator in information and communication engineering and a highly coveted asset in these sectors.

Marko Hytinkoski – Head of Research

Marko Hytinkoski has been an international executive for over 20 years in many cities in Europe and Asia. He has worked in the technology industry in various senior management positions and has lived on four continents while he has successfully performed those positions. Through the benefits of this experience and exposure, it has a very diverse and unique scope of global business practices, corporate etiquette and employee culture across multiple countries around the world.

In addition, Hytinkoski has gained years of knowledge of cryptocurrencies, blockchain and initial offers of coins in the roles of investor, consultant and consultant. He was one of the first to adopt the technology since 2011, well before most were aware of the existence of technology. The opportunities and the experience of Hytinkoski gave him a rare view of the birth of the blockchain in the Internet of Things. He holds an EMBA and a Master of Science (Economics) for education.

David Rokoss – Director

David Rokoss has a twenty-year career as an entrepreneur and consultant, working with a variety of private and publicly traded companies, focusing on developing concepts, finance and operational management. For the last decade, he has consulted numerous early-stage companies in the mining, clean technology, retail, and technology sectors, focusing on business and corporate development opportunities.

Rokoss is currently a director of Blackheath Resources, a listed mining company TSX venture company and a partner in Ptolemy Capital. He graduated from McMaster University.

Garry Stock – Director

Garry Stock has worked in the resource industry for more than 20 years, helping to build companies from the start up to $ 500 million in market capitalization. Stock has been involved in $ 400 million in equity financing and has acquired / developed exploration activities on most commodities within the Canadian, US, Australian and UK jurisdictions. He also earned a BA in Economics and completed the CFA program in 1998.

Owen King – Director

Owen King has over 20 years of experience in the financial markets and in the areas of management consulting. He was hired at Mackie Research as an investment advisor, focusing on venture capital funding in the resource sector and many other sectors.

Since 2014, King has worked with public companies in business development and assistance with capital increases and IPOs. Prior to that, he was a management consultant working with small high-tech industries installing audible quality management systems in small businesses.

Peter Wielgosz – Director

Peter Wielgosz is a lawyer with more than 12 years of experience in Australia, Europe and the Middle East with particular attention to capital markets and the structuring of financial instruments. Over the past five years, Wielgosz has been a family office legal counsel and has worked on several acquisitions, sales and private equity transactions, as well as the establishment of various corporate investment vehicles / holdings, SPVs and trusts, and the governance structures that brought them together. .

Prior to that, Wielgosz was a lawyer in the capital markets practice of Clifford Chance LLP in the Dubai and London offices and in the finance and project finance team with Freehills in Melbourne, Australia.

Wielgosz has a Juris Doctor from Melbourne University (Australia) and a degree in economics from McGill University (Canada). He recently studied private equity at the Said Business School in Oxford and is a member of the London Institute of Administration.


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