Squire Mining

Overview

Squire Mining Ltd. (CSE:SQR, OTCQB:SQRMF) is a Canadian-based cryptocurrency mining company focused on the development, manufacturing and sale of data mining infrastructure 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 rigs.

Since Bitcoin was unveiled in 2009, the cryptocurrency market has grown to include several different types of tokens. Most cryptocurrencies are transacted across a decentralized network, or blockchain, where other users, known as miners, validate the transaction. Miners compete against one another for newly minted currency by solving cryptographic puzzles that determine who transcribes transactions on the block. To do this, companies dedicated to mining for cryptocurrencies require equipment that can mine continuously.

Setting the standard for the industry, cryptomining giant Bitmain is the data mining infrastructure and system technology indicator for how the development of cryptomining technology, producing ASIC chips and cryptocurrency mining rigs. Bitmain generated $2.5 billion in revenue in 2017 and recorded a net profit of $1.1 billion in Q1 2018. Currently, Bitmain is gearing up for its IPO as a publicly-traded company on the Hong Kong Stock Exchange in either Q4 2018 or Q1 2019 and has a pre-IPO valuation of $14 billion according to Forbes.

Looking to enter the same space, Squire is currently testing their prototype 10 nanometer ASIC chips and cryptomining rigs. Squire has signed an exclusive distributor agreement with Coingeek.com, which is subject to minimum purchase requirements and will be in charge of marketing, soliciting, selling and distributing Squire’s new ASIC chip and mining system under the Coingeek.com brand. Once these products go to market, the company will be turning its attention to developing seven or eight nanometer chips and rig systems that will address issues other seven nanometer systems are facing.

Company Highlights

• Exclusive distribution agreement signed with Coingeek.com with minimum purchase requirements.
• Will be releasing latest 10 nanometer rigs and ASIC chips in Q4 2018.
• Rig sales to commence in 2019.
• Blockchain market is expected to grow at an CAGR of 37.2 percent and generate US$7.59 billion in revenue by 2024.
• Management is experienced in marketing, branding and raising capital