Angela Holowaychuk, CEO of Squire Mining, discusses how the company will soon become the largest blockchain-mining company worldwide.
Angela Holowaychuk, CEO of Squire Mining (CSE:SQR), spoke with the Investing News Network (INN) about how Squire will emerge as the world’s largest blockchain-mining company following its acquisition of CoinGeek Mining & Hardware this year.
“Upon close of that transaction, we will manage over 220,000 ASIC miners, which equals 3,000 petahash of computing power,” said Holowaychuk.
While speaking with INN at the Extraordinary Future Conference in Vancouver, British Columbia, Holowaychuk discussed how Squire Mining has undergone major changes since 2018. Previously a resource company, Squire shifted focus to the cryptocurrency sector after diversifying operations and undergoing changes in management.
“Originally about a year ago, we brought in new management and we took a company that was solely focused on the manufacturing and distribution of ASIC mining hardware and injected a revenue-generating operation and asset inventory into the company through the recently announced acquisition transaction with CoinGeek Mining & Hardware,” she said.
Squire Mining focuses on blockchain-based software, hardware, asset management and cloud computing data infrastructure.
“We want to be able to be a vertically integrated services provider for enterprise-level clients,” said Holowaychuk. “I think it’s inevitable that institutions and enterprises will want to get into this industry, and we want to be able to take care of the complex business operations while providing a turnkey solution for those types of clients so that it can streamline their entry into this industry.”
Squire Mining is currently in the final stages of the CoinGeek acquisition. Its newest ASIC mining operations will be located in Kazakhstan, Canada and the US.
“Our most immediate focus is going to be absorbing this operation, looking for operational efficiencies to increase our yield, reduce our operating costs and inject a lot more solutions on those operations,” Holowaychuk said. “Long term we’re always going to stay focused on becoming the world’s largest blockchain services provider.”
Watch the video above for more of what Holowaychuk had to say. Our full playlist from the Extraordinary Future event can be found on YouTube.
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Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.