Squire Mining moves to mining in cryptocurrencies
The Canadian mining company announced that it will now move its business to the world of digital currency
The organization that was operating as the most quoted mining company in Canada, Squire Mining, reported this week that it will move its business to cryptocurrency mining.
The company finalized a commercial agreement of 25 million Canadian dollars, which will invest in the new business model that will begin to be implemented in the coming months.
“The company is now committed to the business of developing, manufacturing and selling mining infrastructure and information, as well as systems and technologies, including mining rigs and ASIC chips to support global blockchain applications in the cryptocurrency mining space. After the approval of the majority of the shareholders to change the item, shareholders who would not be interested would also have been compensated,” the Canadian organization said in a press release.
On the other hand, they detailed that the procedures that will apply from now on will revolve around the development of “ASIC chips and next generation mining rigs.”
After these announcements, the company’s shares had a strong boost to a 71.43% rising only on August 14th.
K. Tovar
Source: Coincrispy
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