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Samsung Will Make Next-Gen ASIC Chips: Squire Mining

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Squire Mining is planning to offer next-gen 10 nm ASIC chips. The company revealed that it is collaborating with Samsung Electronics as its foundry partner. Squire and Gaonchips will complete their ASIC chip FPGA prototype by September 30 this year with the support of Samsung.

New ASIC chips to Use Samsung Semiconductors

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

The company claims that the collaboration will aim to produce next-generation 10nm ASIC chips for bitcoin mining.  It will use Gaonchips for their semiconductor design house and Samsung will manufacture the 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 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,” noted Squire.

Squire Partners With Coingeek

The company announced several prominent collaborations recently. Squire closed its non-brokered private placement equity financing of $25,500,000 CAD ($19.5 million USD) in August.

Coingeek, the blockchain company and mining pool also announced that it is collaborating with Squire. Coingeek said that it will be using Squire’s 10nm chips but it will use the Coingeek brand.

They said that they will be “granted the exclusive right to market, promote, solicit, sell and distribute Squire’s new ASIC chips and mining rigs” for bitcoin cash (BCH) mining.

Samsung Enters The Industry

It seems that Samsung decided to enter the ASIC mining industry this year. They evidently made chips for other mining equipment manufacturers as well.

The Innosilicon T2 and T2 Turbo, for instance, use the Samsung 10nm chip. In preceding weeks, several manufacturers announced new mining rigs such as Ebang’s E-11 series with 10nm chips.

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



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