Samsung and Canadian Bitcoin mining corporation reach an agreement
According to CCN's report, Squire, a Canadian-based cryptocurrency mining company, raised $19.5 million in mining equipment in August and has signed a protocol with Samsung for the production of ASIC chips.
The company has partnered with chip companies Gaonchips and Samsung Electronics to design and manufacture new ASIC miners, which will enable the company to compete with Bitmain.
“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,” stated by Squire.
The agreement between Samsung and Squire indicates that the Korean business group is interested in increasing its strategic investment. Samsung is targeting the cryptocurrency mining sector and willing to challenge the industry's leading forces. The Canadian Stock Exchange has disclosed this news, and Samsung Electronics has not yet released its official statement.
Executive editor： Nino