Company looks to double employee count as development of cutting-edge cryptocurrency hardware takes off
NORTH CANTON, Ohio, July 11, 2018 — Squirrels Research Labs (SQRL), a sister company of local software company Squirrels LLC under the Squirrels Inc. umbrella, is expanding its footprint locally and hiring additional staff to support hardware efforts.
“We developed a piece of hardware called Acorn that increases the effectiveness of cryptocurrency mining operations without adding a significant cost,” Squirrels president David Stanfill said. “This is something that’s never been done before, and we’re proud to be expanding and developing in North Canton.”
To assist with hardware efforts, SQRL plans to hire additional employees and potentially double its count from 40 to 80 in the next twelve months.
The company obtained 16,000 square feet of warehouse and manufacturing space near its headquarters in North Canton. The additional property more than doubles the existing footprint of Squirrels in the area, and it allows SQRL to expand further when needed.
Hardware developed and produced by SQRL is the first of its kind and can be used in cryptocurrency mining and blockchain verification operations all over the world. Acorn is a cryptocurrency mining and blockchain verification accelerator card that works in sync with computer graphics cards to offload work that typically creates bottlenecks. It performs the work much faster, resulting in an increase in overall efficiency.
“Initially, we planned to sell only about a thousand units over this summer, but interest is much bigger than we anticipated,” Stanfill continued.
SQRL now plans to sell more than 20,000 units over the next six months. Shipments will begin arriving to customers in late August.
Acorn hardware, along with other developments in the hardware space, will propel Squirrels into a future of hardware development that leverages its existing software technologies.
“We already have more hardware in the pipeline, and we’re forging relationships that will benefit the entire cryptocurrency ecosystem,” Stanfill said. “We’re just getting started.”
About Squirrels Research Labs
Squirrels Research Labs, SQRL, is a sister company of Squirrels LLC under the Squirrels Inc umbrella. SQRL focuses on hardware development and research projects that contribute to the overall success of the Squirrels brand. Learn more at http://squirrelsresearch.com.
About Squirrels LLC
Squirrels is a software-development company specializing in wireless audio and video transmission. Its industry-leading products include AirParrot, Reflector, Ditto and ClassHub. More information about these products and Squirrels can be found at http://airsquirrels.com.
The Squirrels logo is a trademark of Squirrels LLC registered in the United States and other countries.
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This article has been provided by Nasdaq Globe Newswire.