Squire Mining Ltd. recently announced the closing of a non-brokered private placement equity financing of Canadian $25,500,000 to fund the developing, manufacturing, and selling data mining infrastructure and system technology.

By the end of the fourth quarter of 2018, Squire Mining Ltd developers are going to finish design, development, testing, and mass production of the initial next generation application-specific integrated circuit (ASIC) chips, as well as a mining rig for mining Bitcoin.

In March, Squire Mining Ltd entered into a binding agreement with Peter Kim to form the company that will focus in the development of 10 nm ASIC chips. The company is going to initiate the sale of bitcoin and crypto-mining systems as well as developing its own mining facilities.

According to the company, by the end of 2018 crypto market might attract almost $1 trillion and over $10 trillion by 2030.

It’s worth noting that Canaan Creative company presented AvalonMiner A9 mining hardware with 7nm chip and 30 Th/s hash rate.