Squire CEO on CoinGeek acquisition: It would make us the largest, publicly traded Bitcoin miner globally

Squire Mining Ltd., a Canada-based publicly listed company, announced its agreement to acquire crypto mining assets owned by CoinGeek and its associates. This will be the founding stone of the largest publicly-owned crypto mining operation in the world known as CoinGeek Technologies Ltd, reported CoinGeek.

Taras Kulyk, chief executive officer at Squire, said:

“This transaction would provide Squire with a leading, recognized brand via the acquisition of the CoinGeek.com and CoinGeek name, but it would also make us the largest, publicly traded Bitcoin miner globally. It is expected to deliver significant shareholder value by enabling Squire to become vertically integrated with our growing chip design and manufacturing business, which we would seek to have commercial within 2019.”

Under the agreement, Squire will undertake CoinGeek’s assets, including 62,440 ASIC mining rigs, representing an estimated 960,000 terahash or approximately 90 MW of power consumption. According to…

Read Full Story : AMBCrypto

2018-12-01 09:11:03

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