Intel was born by being on the cutting edge of technology, so it’s no surprise that the tech giant would continue to ensure that it is able to be an influencer. The company already has a number of patents related to cryptocurrencies and blockchains, but just added another to its growing binder. The latest could go a long way to countering all of those obtuse individuals who believe that cryptocurrency mining is bad for the environment.
The U.S. Patent & Trademark Office (USPTO) has awarded Intel a patent for a crypto mining processor that allows for “energy-efficient high performance bitcoin mining.” The patent filing specifically refers to the SHA-256 algorithm, which is the most common algorithm used by Bitcoin Core (BTC).
According to the patent, “Dedicated Bitcoin mining ASICs [application-specific integrated circuits] are used to implement multiple SHA-256 engines that may deliver a performance of thousands of hashes per second while consuming power of greater than 200 [watts]. Embodiments of the present disclosure employ micro-architectural optimizations including selective hardwiring certain parameters in Bitcoin mining computation.”
By hardwiring the parameters, the number of computations needed would be reduced. This would allow the mining system to also rely on a decreased amount of power, possibly as much as 15%. The chip could also be made smaller than current chips, which would result in a smaller footprint for the mining equipment that doesn’t have to incorporate a significant amount of cooling devices.
The processor would include additional characteristics that could even further lower the power needs. The patent discusses that, by changing the amount of 32-bit nonce that is used to verify validity, there could be a further reduction in power usage. Intel states in the patent, “Instead of comparing the final hashing result with the target value, [the] bitcoin mining application may determine whether the hash out has a minimum number of leading zeros.”
Intel obviously has a strong history - and a great deal of expertise - with computer processors. In addition to crypto patents the company already holds, it was also the chip manufacturer for 21 Inc., a crypto mining operation. 21 Inc. was later renamed Earn.com and subsequently purchased by Coinbase.
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Vancouver (British Columbia), 12. Oktober 2018. Squire Mining Ltd. (CSE: SQR, FRA: 9SQ, OTCQB: SQRMF) („Squire“ oder das „Unternehmen“) freut sich, Ennoconn Corporation („Ennoconn“) als seinen Hardwarehersteller für Mining-Systeme der nächsten Generation für das Schürfen von Bitcoin Cash, Bitcoin und anderen damit in Zusammenhang stehenden Kryptowährungen zu präsentieren. Ennoconn ist ein führender Entwickler von industriellen Hauptplatinen und ein ganzheitlicher Lösungsanbieter von Hardwaresystemen mit Hauptsitz in Taipei (Taiwan), der an der taiwanesischen Börse notiert (TPE: 6414). Im Jahr 2007 avancierte die Foxconn Technology Group, das weltweit größte Electronic Manufacturing Service-Unternehmen, zum Mehrheitsaktionär von Ennoconn, wodurch eine starke strategische Allianz in den Bereichen eingebettete Systeme und Elektronikherstellung entstand.
Am 21. August 2018 meldete Squire, dass AraSystems Technology Corp. („AraSystems“), eine Tochtergesellschaft von Squire, ein vorläufiges unverbindliches Abkommen mit einem großen, globalen Technologiemontageunternehmen unterzeichnet hat. Dieses Unternehmen, bei dem es sich um Ennoconn handelt, wie nun bekannt ist, wird die Konzipierung und den Zusammenbau unseres Mining-Rig der nächsten Generation unterstützen, sobald ein funktionierender Prototyp unseres ersten ASIC-Chips fertiggestellt wurde.
Am 3. Oktober 2018 meldete Squire den erfolgreichen Abschluss und die erfolgreiche Erprobung eines funktionierenden Prototypen seines FPGA-Mikrochips, wobei die ersten Ergebnisse des Verhältnisses zwischen Terahash und Energieverbrauch darauf hinwiesen, dass der endgültige ASIC-Chip und das endgültige Mining-System das Potenzial aufweisen, die Betriebskosten von Mining-Unternehmen um bis zu 40 Prozent zu senken.
• Diese Kostensenkung wurde von einem führenden Mining-Konzern auf 60 Millionen Dollar pro Jahr an Einsparungen alleine in ihren Betrieben geschätzt.
• Der endgültige ASIC-Chip und das endgültige Mining-System werden die Schürfleistung der Blockchain voraussichtlich vervierfachen. Dieser Prozess ermöglicht es Schürfern, bezahlt zu werden und dabei ihre Kapitalrendite und ihren Gewinn zu steigern. Solche Berechnungen basieren auf Vergleichen mit den meisten aktuellen Mining-Maschinen, die von Unternehmen aus allen Teilen der Welt eingesetzt werden.
Angesichts dieses Erfolgs hat das Unternehmen eine verbindliche Absichtserklärung (Memorandum of Understanding) mit Ennoconn unterzeichnet und die Arbeiten hinsichtlich des Beginns der Phase-1-Planung und -Entwicklung des Mining-Systems der nächsten Generation von AraSystems in Zusammenarbeit mit seinen Partnern in Taipei (Taiwan) und Seoul (Südkorea) finanziert. Die endgültige Dokumentation wird der folgenden Lieferung der endgültigen Spezifikationen und Datenblätter an Ennoconn zu einem späteren Zeitpunkt in diesem Monat beigefügt werden.
Die Techniker von Squire arbeiten zurzeit gemeinsam mit Ennoconn an der Konzipierung und Entwicklung des Mining-Rig von AraSystems, das mit dem ersten ASIC-Chip ausgestattet werden wird, der zurzeit von AraCore Technology Corp. („AraCore“), einer Tochtergesellschaft des Unternehmens, gemeinsam mit GaonChips und Samsung Electronics entwickelt wird (siehe Pressemitteilungen vom 25. September und 3. Oktober 2018). Ennoconn wird hingegen für die Massenfertigung des Mining-Rig verantwortlich sein, sobald alle Entwicklungs- und Testarbeiten abgeschlossen sind.
Ein Prototyp des Mining-Rig sowie die vollständigen Spezifikationen des ASIC-Chips von AraCore werden voraussichtlich bei der CoinGeek Conference präsentiert werden, die von 28. bis 30. November 2018 in London stattfinden wird. Der Vorabverkauf wird voraussichtlich zu dieser Zeit beginnen. Einige der größten Mining-Unternehmen dieser Branche, die zurzeit Hunderttausende von Mining-Maschinen in ihren Einrichtungen in allen Teilen der Welt betreiben, haben bereits großes Interesse bekundet.
„Wir freuen uns, eine Partnerschaft mit den fachkundigen Technikern von Ennoconn, einem der weltweit führenden Elektronikherstellungsunternehmen, eingegangen zu sein“, sagte Simon Moore, Executive Chairman und CEO von Squire. „Angesichts der Einführung unseres Mining-Rig der nächsten Generation mit zahlreichen Innovationen ist es unabdingbar, dass unsere Herstellungspartner über das Know-how, die Erfahrung und die Fähigkeit verfügen, nicht nur eine einzigartige Hardware, sondern auch die höchste Qualität zu liefern. Wir sind davon überzeugt, dass Ennoconn dazu beitragen wird, die Herstellung eines außergewöhnlichen Mining-Rig für den Markt sicherzustellen“, sagte er. Herr Moore sagte außerdem: „Angesichts der ersten Interessensbekundungen in der Branche besteht enormes Potenzial für starke Verkäufe und daraus resultierende Umsätze für Squire im kommenden Jahr, wodurch Squire und seine Partner nennenswerte Anbieter von Hardware für das Schürfen von Kryptowährungen und Innovation der nächsten Generation auf globaler Ebene sein würden.“
Die Canadian Securities Exchange übernimmt keinerlei Verantwortung für die Angemessenheit oder Genauigkeit dieser Pressemeldung.
Über AraSystems Technology Corp.
AraSystems ist ein Joint-Venture-Unternehmen, das von Squire und Future Farm Developments Ltd. („Future Farm“), einem Technologieunternehmen mit Sitz in Hong Kong, gegründet wurde, um die Entwicklung, Herstellung und Montage der Mining-Rigs der nächsten Generation des Unternehmens abzuwickeln. Squire besitzt eine 75-Prozent-Beteiligung an AraSystems, während Future Farms die restlichen 25 Prozent besitzt.
Über AraCore Technology Corp.
AraCore ist ein Joint-Venture-Unternehmen, das von Squire und Peter Kim gegründet wurde, um ASIC-Chips der nächsten Generation für das Schürfen von Bitcoin Cash, Bitcoin und anderen damit in Zusammenhang stehenden Kryptowährungen zu entwickeln. Squire besitzt eine 75-Prozent-Beteiligung an AraCore, während Peter Kim die restlichen 25 Prozent besitzt.
Über Squire Mining Ltd.
Squire ist ein Unternehmen mit Sitz in Kanada, das durch seine Tochtergesellschaften im Bereich der Entwicklung von Datensammlungsinfrastrukturen und Systemtechnologien zur Unterstützung globaler Blockchain-Anwendungen im Mining-Bereich tätig ist, einschließlich ASIC- (anwendungsspezifische integrierte Schaltung)-Chips und Mining-Rigs der nächsten Generation für das Schürfen von Bitcoin Cash, Bitcoin und anderen damit in Zusammenhang stehenden Kryptowährungen.
Weitere Informationen erhalten Sie über:
Simon Moore
Executive Chairman und Chief Executive Officer
Telefon: +1 604 929-0900
VORSORGLICHER HINWEIS BEZÜGLICH ZUKUNFTSGERICHTETER INFORMATIONEN: Diese Pressemitteilung enthält „zukunftsgerichtete Informationen“ gemäß den anwendbaren kanadischen Wertpapiergesetzen. Zukunftsgerichtete Informationen und Aussagen beinhalten, sind jedoch nicht beschränkt auf Aussagen hinsichtlich des prognostizierten Terahash-Energieverbrauchsverhältnisses der ersten ASIC-Chips und Mining-Systeme des Unternehmens für Bitcoin Cash, Bitcoin und andere damit verbundene Kryptowährungen, der entsprechenden Zeitpläne für die Entwicklung und Fertigstellung dieser, die Auswirkungen solcher Chips und Systeme auf die Rentabilität der Mining-Betriebe der Endnutzer und ihres möglichen Absatz- und Umsatzpotenzials. Zukunftsgerichtete Informationen basieren zwangsläufig auf einer Reihe von Schätzungen und Annahmen, die zwar vernünftig sind, aber dennoch bekannten und unbekannten Risiken, Ungewissheiten und anderen Faktoren unterliegen, die dazu führen könnten, dass sich die tatsächlichen Ergebnisse und zukünftigen Ereignisse erheblich von jenen unterscheiden, die in solchen zukunftsgerichteten Informationen explizit oder implizit zum Ausdruck gebracht wurden. Solche Faktoren beinhalten, sind jedoch nicht beschränkt auf die allgemeine Geschäfts- und Wirtschaftslage, die Konkurrenz, politische und soziale Ungewissheiten, unsichere und volatile Aktien- und Kapitalmärkte, den Mangel an verfügbarem Kapital, Risiken in Zusammenhang mit der Planung von Chips und Rigs, die Entwicklung und Herstellung (einschließlich Planungsfehler, Software- und Programmierfehler, Hardware-/Software-Integrationsprobleme, Herstellungsverzögerung, Unvermögen, Komponenten zeitgerecht oder überhaupt zu beschaffen usw.), technologische Änderungen, die Obsoleszenz sowie auf die Marktfähigkeit von Chips und Rigs, die vom Unternehmen entwickelt werden. Eine detailliertere Erörterung der Risikofaktoren, denen das Unternehmen und die Entwicklung und Herstellung von ASIC-Chips und Mining-Rigs ausgesetzt ist, finden Sie im Formular 2A der Notierungserklärung des Unternehmens vom 31. Juli 2018 (die „Notierungserklärung“), das bei der CSE und auf SEDAR eingereicht wurde. Es gibt keine Gewissheit, dass das Unternehmen die Planung und Entwicklung eines kommerziell machbaren ASIC-Chips oder Mining-Rig erfolgreich abschließen wird oder dass solche Chips und Rigs das geschätzte Terahash-Energieverbrauchsverhältnis oder, wie vorgesehen, eine Verbesserung gegenüber den derzeit erhältlichen Systemen liefern werden. Zudem kann nicht garantiert werden, dass das Unternehmen mit Ennoconn ein formelles Design- und Montageabkommen für seine Mining-Rigs zu den aktuell vorgesehenen Bedingungen oder überhaupt aushandeln und abschließen kann. Die tatsächlichen Ergebnisse und zukünftigen Ereignisse könnten sich erheblich von jenen unterscheiden, die in solchen zukunftsgerichteten Informationen zum Ausdruck gebracht wurden. Die Leser sollten sich daher bei ihren Investitionen nicht auf zukunftsgerichtete Informationen verlassen. Alle zukunftsgerichteten Informationen und Aussagen in dieser Pressemitteilung gelten zum Zeitpunkt ihrer Veröffentlichung und sind durch diese vorsorglichen Hinweise sowie durch jene in unseren kontinuierlichen Einreichungen auf SEDAR unter www.sedar.com, einschließlich der Notierungserklärung, qualifiziert. Das Unternehmen schließt eine Verpflichtung zur Aktualisierung oder Überarbeitung solcher zukunftsgerichteten Informationen, weder infolge neuer Informationen noch infolge zukünftiger Ereignisse oder aus anderen Gründen, aus - es sei denn, dies ist gesetzlich vorgeschrieben.
Die Ausgangssprache (in der Regel Englisch), in der der Originaltext veröffentlicht wird, ist die offizielle, autorisierte und rechtsgültige Version. Diese Übersetzung wird zur besseren Verständigung mitgeliefert. Die deutschsprachige Fassung kann gekürzt oder zusammengefasst sein. Es wird keine Verantwortung oder Haftung für den Inhalt, die Richtigkeit, die Angemessenheit oder die Genauigkeit dieser Übersetzung übernommen. Aus Sicht des Übersetzers stellt die Meldung keine Kauf- oder Verkaufsempfehlung dar! Bitte beachten Sie die englische Originalmeldung auf www.sedar.com, www.sec.gov, www.asx.com.au/ oder auf der Firmenwebsite!
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Canadian Securities Exchange (CSE)-listed public company Squire Mining Ltd. revealed on Thursday that it has tapped Taiwanese firm Ennoconn to be the hardware manufacturer for its next-generation systems that will mine Bitcoin Cash (BCH), as well as other associated cryptocurrencies.
Squire, via its subsidiary AraSystems Technology Corp., initially entered into discussions with Ennoconn in August. Under the resulting deal, Ennoconn will assist in the design and assembly of Squire’s mining rig after a working prototype of the company’s application specific integrated circuit (ASIC) chip is completed, according to the company.
Ennoconn is an industrial motherboard designer and total hardware solution provider listed on the Taiwanese Stock Exchange. It counts multinational electronics contract manufacturing company Foxconn Technology Group as its major stockholder, which manufactures for such globally renown brands as Apple, Sony, Sharp and Microsoft.
Last week, Squire completed and tested its FPGA working prototype, which confirmed the original design specifications and indicate that the completed ASIC chip should 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—meaning the final chip and mining rigs have the potential to reduce operational costs by up to 40% for enterprise mining facilities.
Now, Squire has entered into a binding Memorandum of Understanding with Ennoconn, a deal that will see the Taiwanese firm start the Phase 1 design and development of the mining rigs. According to Squire, its engineers are already working with Ennoconn to design and develop the crypto mining rigs, which, together with the final ASIC chip, 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.”
Tech giant Samsung Electronics will manufacture the ASIC chips in South Korea. The pilot production test run of Squire’s debut ASIC chip for Bitcoin BCH is expected to be completed before the end of 2018 with the fully operational mining rig to be completed in the first half of 2019. Squire will then deliver the ASIC chips and mining rigs to associates of Bitcoin BCH’s largest mining company, CoinGeek.com, who have the exclusive right to market, promote, solicit, sell and distribute Squire’s new ASIC chips and mining rigs to Bitcoin BCH and other altcoin miners throughout the world.
“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,” said Simon Moore, executive chairman and CEO of Squire, in a statement.
A prototype of Squire’s mining rig, along with the full specifications of the ASIC chip, is planned to be unveiled at the CoinGeek Week Conference in London on Nov. 28-30. Pre-sales are expected to start on or around that date.
Miners are invited to the CoinGeek Week Miners Day, taking place on 27 November 2018 as part of the CoinGeek Week Conference, to meet with the CoinGeek team and discuss how this next-generation ASIC miner can improve their business
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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October 11, 2018 - VANCOUVER, B.C., Squire Mining Ltd. (CSE:SQR; FRA:9SQ; OTCQB:SQRMF) (“Squire” or the “Company”). Squire is pleased to announce Ennoconn Corporation (“Ennoconn”) as our 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 – 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.”
The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this news release.
About AraSystems Technology Corp.
AraSystems is a joint venture company established by Squire and Future Farm Developments Ltd. (“Future Farm”), a Hong Kong based technology company, to manage the development, manufacture and assembly of the Company’s next generation mining rigs. Squire owns a 75% interest in AraSystems and Future Farm owns the remaining 25% interest.
About AraCore Technology Corp.
Aracore is a joint venture company established by Squire and Peter Kim to design and develop next generation ASIC chips for mining Bitcoin Cash, Bitcoin and other associated cryptocurrencies. Squire owns a 75% interest in Aracore and Peter Kim owns the remaining 25% interest.
About Squire Mining Ltd.
Squire is a Canadian based company engaged, through its subsidiaries, in the business of developing data mining infrastructure and system technology to support global blockchain applications in the mining space including applicable specific integrated circuit (ASIC) chips and next generation mining rigs to mine Bitcoin Cash, Bitcoin and other associated cryptocurrencies.
For further information contact:
Simon Moore,
Executive Chairman and Chief Executive Officer
Telephone: (604) 929 - 0900
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” under applicable Canadian securities legislation. Forward-looking information and statements include, but are not limited to, statements regarding the projected terahash to energy consumption ratio of the Company’s initial ASIC chip and mining system for Bitcoin Cash, Bitcoin and other associated cryptocurrencies, the timing for development and completion thereof, the impact of such chip and system on the profitability of end user mining operations and the potential sales volume and revenue generating potential thereof. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, risks related to chip and rig design, development and manufacturing (including design flaws, software/programming errors, hardware/software integration issues, manufacturing delays, inability to source components on a timely basis or at all, etc), technological change, obsolescence and the marketability of any chips or rigs developed by the Company. See also the Company’s Form 2A Listing Statement dated July 31, 2018 (the “Listing Statement”) filed with the CSE and SEDAR for a more detailed discussion of risk factors facing the Company and its development and manufacture of ASIC chips and mining rigs. There are no assurances that the Company will successfully design and develop a commercially viable ASIC chip or mining rig or that such chip and rig will provide the estimated terahash to energy consumption ratio or improvement over currently available systems as contemplated. Furthermore, there is no guarantee that the Company will successfully negotiate and enter into a formal design and assembly agreement for its mining rigs with Ennoconn on terms presently contemplated or at all. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward-looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Listing Statement. The Company disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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Squire Mining Ltd. (Squire), a CSE listed public company, conducted the first-phase testing of its application specific integrated circuit (ASIC) prototype, and the results are in: the Squire unit’s hash rate is 1.5x faster than most commonly used crypto miners on the market, but with 50% lower energy consumption. The test, conducted in Seoul, South Korea, involved a working prototype mining system comprised of a newly engineered field programmable gate array (FPGA) ASIC microchip that will be re-designed as a 10nm ASIC chip for mining Bitcoin Cash (BCH) as well as altcoins such as those using SegWit technology.
The test results confirmed the original design specifications and indicate that the ASIC chip should 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.
“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,” said nChain Chairman Stefan Matthews, who is also a director of Squire.
Squire has tapped tech giant Samsung Electronics as its foundry partner to manufacture the ASIC chips in South Korea. At the testing, Squire’s Executive Chairman and CEO Simon Moore made the following statement: “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.”
The pilot production test run of Squire’s debut ASIC chip for Bitcoin BCH is expected to be completed before the end of 2018 with the fully operational mining rig to be completed in the first half of 2019. Squire will then deliver the ASIC chips and mining rigs to associates of Bitcoin BCH’s largest mining company, CoinGeek.com, who have the exclusive right to market, promote, solicit, sell and distribute Squire’s new ASIC chips and mining rigs to Bitcoin BCH and other altcoin miners throughout the world.
“With this next generation technology, CoinGeek will continue to pull the blockchain industry out of the proverbial basement and into the boardroom,” said Tara Kulyk, CEO of CoinGeek Mining and Hardware.
Miners are invited to the CoinGeek Week Miners Day, taking place on 28 November 2018 as part of the CoinGeek Week Conference in London, to meet with the CoinGeek team and discuss how this next-generation ASIC miner can improve their business.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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One of Bitmain’s biggest rivals, Ebang Communication, has announced three new crypto mining rigs, which reportedly feature hashrate speeds of up to 44 trillion hashes per second (TH/s).
The China-based ASIC mining chip maker revealed its E11 series miners at the World Digital Mining Summit in Georgia. On its website, Ebang stated that sales for Ebit Miner E11, E11+ and E11++ will be “forthcoming.”
Like its E10 product line, Ebang’s E11 series features a 10nm chip. According to a product flyer posted by Blockstream CSO Samson Mow on Twitter, the E11++ offers efficiencies of 45 J/TH at 44 TH/s “for the entire miner at the wall, not the chip.” E11+ is capable of 37 TH/s, while E11 can reach 30 TH/s.
#Ebang has just announced their next gen miners, the E11 series with 10nm chips up to efficiencies of 45J/TH. That’s for the entire miner at the wall, not the chip. Ebang has maxed out gains for the 10nm process node, and it far exceeds Bitmain’s 7nm stats. #WDMS #miningconf
pic.twitter.com/jzXx3AYZWI
— Samson Mow (@Excellion) September 22, 2018
Eban’s E11 miners are expected to come out ahead of its competition, such as the Whatsminer M10, the Bitfury Clarke, and Bitmain’s yet-to-be-released 7nm miner. Announced just last week, Whatsminer M10 is a 16nm ASIC miner from Pangolin, which is specifically designed for the SHA256 algorithm and can mine Bitcoin BCH, as well as BTC, at 33 TH/s. In comparison, Bitfury’s 14nm Clarke fully customized ASIC promises up to 120 gigahashes per second (GH/s) hashrate.
Bitmain claimed it has a 7nm chip capable of up to 41 J/TH power efficiency—which falls in comparison to Pangolin’s E11 miner series.
Red flags over the competitiveness of Bitmain’s chips have been raised recently. According to analysts from Sanford C Bernstein & Co, the Beijing-based ASIC device manufacturer has begun to lose the competitive edge that allowed it to control as much of 85% of the market for crypto mining chips.
Ebang Communication, along with another Bitmain rival Canaan Creative, have announced plans to hold initial public offerings (IPO) on the Hong Kong Stock Exchange, targeting to raise as much as $1 billion. Bitmain is also supposedly preparing for a September IPO, but recent reports indicate the company is suffering from inventory losses, a lack of new manufacturing and the dwindling crypto mining market, which has already caused Nvidia to pull back on its production and financial forecasts.
Squire taps Samsung to manufacture ASIC chips
Meanwhile, another player is gearing up to join the ASIC crypto miner market.
On Tuesday, Canada’s Squire Mining Ltd. announced that it has chosen Samsung Electronics as its foundry partner to manufacture its next-generation ASIC chips in South Korea. Gaonchips is designing the chip for mining of Bitcoin Cash (BCH) as well as alt coins such as those using SegWit technology.
The FPGA (field programmable gate array) prototype for Squire’s first ASIC chip is expected to be completed by Sept. 30, 2018.
In a statement, Squire said, “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, [BTC], 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.”
Squire’s joint venture with Hong Kong-based tech firm Future Farm Developments Ltd., Arasystems Technology Corp., which will manage the development, manufacturing and assembly of Squire’s ASIC chip-powered mining rigs.
The pilot production test run of Squire’s initial ASIC chip and mining systems for Bitcoin BCH is expected to be completed by the end of fourth quarter of 2018. Squire Mining will then deliver the ASIC chips and mining rigs to associates of Bitcoin BCH’s largest mining company, CoinGeek.com, which has been granted the exclusive right to market, promote, solicit, sell and distribute Squire’s new ASIC chips and mining rigs to Bitcoin BCH and other alt coin miners throughout the world.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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VANCOUVER, British Columbia, Sept. 25, 2018 (GLOBE NEWSWIRE) — Squire Mining Ltd. (CSE: SQR; OTCQB: SQRMF) — Squire is very pleased to announce 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.
The Canadian Securities Exchange accepts no responsibility for the adequacy or accuracy of this news release.
For further information contact:
Simon Moore, President and Chief Executive Officer
Telephone: (604) 929 - 090
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the future development, manufacture, distribution and sale of the Company’s next generation ASIC chips and mining systems for Bitcoin and the timing thereof. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, risks related to chip and rig design, development and manufacturing (including design flaws, manufacturing delays, inability to source components on a timely basis or at all, etc), technological change, obsolescence and the marketability of any chips or rigs developed by the Company. See also the Company’s Form 2A Listing Statement dated July 31, 2018 (the “Listing Statement”) filed with the CSE and SEDAR for a more detailed discussion of risk factors facing the Company and its development and manufacture of ASIC chips and mining rigs. There are no assurances that the Company will successfully design and develop a commercially viable ASIC chip or mining rig as contemplated. Actual results and future events could differ materially from those anticipated in such forward looking information. Accordingly, readers should not place undue reliance on forward-looking information. All forward looking information in this news release is made as of the date hereof and qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including the Listing Statement. The Company disclaims any intention or obligation to update or revise such forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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