Squirrels’ spinoff looks to cryptocurrency

North Canton tech company Squirrels LLC has spun off a sister company to enter the world of cryptocurrency and blockchain technology.

The new company, Squirrels Research Labs (SQRL), was formed in spring but planning for it began last fall, said Andrew Gould, Squirrels chief operating officer and co-founder. SQRL has released a new hardware product — Acorn — that works with computer graphics cards and increases the effectiveness of cryptocurrency mining and blockchain verification, company officials said.

Although the two companies are separate entities, they share leadership, employees and many resources. And SQRL expects to bolster its ranks this year.

“We have been exploring the space of the cryptocurrency and blockchain space both from a sort of personal interest and also looking at a business opportunity there,” Gould said.

“It’s a developing market, so it is still finding its legitimacy and trying to shake out the illegitimate people that may try to take advantage of a new…