According to data compiled by Inkwood Research, the global semiconductor market is projected to grow at a CAGR of 7.67% during the forecast period from 2017 to 2024. Data reflects that the market is driven by rising demand for consumer electronics, the growing automotive semiconductor market, the emerging internet of things (IoT) market and investments into New Product Development and R&D. Consumer electronics are primarily fueling the market due to demand for products such as tablets, smartphones, laptops and wearable devices. As semiconductor technology begins to advance, new segments are swiftly being integrated into the market, such as Machine Learning. Squire Mining Ltd. (OTC: SQRMF), Intel Corporation (NASDAQ: INTC), Texas Instruments Incorporated (NASDAQ: TXN), NXP Semiconductors N.V. (NASDAQ: NXPI), Skyworks Solutions, Inc. (NASDAQ: SWKS)
According to data by MarketsandMarkets, the global machine learning sector is expected to grow from USD 1.41 Billion in 2017 to USD 8.81 Billion in 2022 while registering a CAGR of 44.1% during the forecast period. The segment is rapidly growing due to many businesses adopting machine learning to gather intelligence for security and consumer interaction benefits, which can help eliminate human errors. However, machine learning is also being integrated into modern day technology, such as the automotive industry, to build autonomous vehicles. In a report by Forbes, Daniel Newman Principal Analyst and Founding Partner of Futurum Research, explained, “When dealing with a technology as advanced as machine learning, there simply isn’t an industry that would not benefit. I mean how could a business not take advantage of a technology that would make them more successful? In the next year, there will be multiple new uses for machine learning in all of these industries available for the taking and I’m not just talking about in marketing and sales.”
Squire Mining Ltd. (OTCQB: SQRMF) is also listed on the Canadian Securities Exchange under the ticker (CSE: SQR). Yesterday, the Company announced breaking news that, “to report on its prototype ASIC chip testing event held in Seoul, South Korea. With executives and board members from Squire, Future Farm, CoinGeek, Gaonchips and Samsung Electronics in attendance, Peter Kim, President of Squire’s subsidiary AraCore Technology Corp. (“Aracore”), and his team of front-end microchip engineers and programmers, unveiled and tested a working prototype mining system comprised of a newly engineered FPGA (field programmable gate array) ASIC microchip that will be converted into AraCore’s first ASIC chip utilizing 10 nanometer technology for mining Bitcoin Cash, Bitcoin and other associated cryptocurrencies. The test results confirm Aracore’s original design specifications indicating that the ASIC chip, once mass manufactured by Samsung Electronics, will be capable of delivering a projected hash rate of 18 to 22 terahash per second (TH/s) with an energy consumption of between 700 and 800 watts.
Taras Kulyk, Chief Executive Officer of CoinGeek Mining and Hardware, said ‘The CoinGeek team is very pleased with the progress of our strategic partners; Squire Mining and Aracore. With this next generation technology, CoinGeek will continue to pull the blockchain industry out of the proverbial basement and into the boardroom.’
Stefan Matthews, Chairman of nChain, one of the industry leaders in blockchain research and development, and a director of Squire Mining added, ‘The early results indicate that this ASIC microchip has the potential to be the next generation leader in providing hash power for enterprise mining of Bitcoin Cash and other associated crypto currencies. It has also demonstrated the potential to rapidly process consensus protocols across the blockchain faster whilst utilizing less energy than anything currently in this sector.’
Hash rate speed and microchip efficiency are the two most important measuring criteria in the crypto-mining industry to enable end-users to maximize profitability and ROI in their day to day mining operations.
Simon Moore, Executive Chairman and CEO of Squire Mining, stated, ‘Aracore’s time and investment to date have been validated by the impressive results of this new microchip. Once completed, we believe the speed and efficiency of our ASIC microchip combined with our respective mining systems powered by this Samsung manufactured microchip together have the potential to substantially increase the profitability of enterprise mining facilities around the globe. We look forward to releasing our mining system to the market in the first half of next year through our exclusive distribution partners CoinGeek, and competing for a significant piece of this multi-billion-dollar enterprise mining market.’