Calvin Ayre, the founder of Ayre Group and the owner of cryptocurrency media website CoinGeek has sold his both his bitcoin cash (BCH) mining pool & cryptocurrency-related news website CoinGeek for $45 million to Canadian mining company Squire Mining, Finance Magnates reports.
CoinGeek is known as one of the brightest bitcoin cash SV supporters, and, what’s more important, with his mining pool Ayre had been controlling over 37% of the BCH network’s hashrate. Recently, due to its position regarding BCH hardfork, CoinGeek faced with Distributed Denial of Service DDoS attack.
Squire Mining reportedly has approximately $35 million in market cap, and its shares are traded on a various number of traditional exchanges all around the world, while Bitmain, for example, which is the largest mining entity in the world, is still waiting for approval from China’s government in order to go public.
As a result, Squire Mining gets control over CoinGeek’s employees and 62,400 ASIC mining equipments, which are based in the U.S., Kazakhstan, and Canada.
Earlier, Squire Mining entered into collaboration with Samsung and Gaonchips to improve next-gen 10nm SIC chips and to develop new ones.
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