Bitcoin

Jack Dorsey revealed that Block is working on creating a comprehensive Bitcoin mining system.


Block, a leading global technology company in the financial services sector, has revealed significant progress in its bitcoin mining project. The company has completed the development of a three-nanometer (nm) bitcoin mining chip and is nearing completion of the design production with a top global semiconductor foundry. This development is seen as a crucial step in Block’s mission to decentralize bitcoin mining hardware distribution and ensure effective hashrate distribution, as announced here.JUST IN: Jack Dorsey and Block are “working on a full #bitcoin mining system.” 👀 pic.twitter.com/zfByRI8G1T— Bitcoin Magazine (@BitcoinMagazine) April 23, 2024

Alongside chip development, Block has also announced the creation of a complete “bitcoin mining system” to address challenges faced by mining operators and promote mining decentralization. The company is seeking feedback from the bitcoin mining community to improve the system’s design and functionality.”We’re developing a mining rig,” stated Block CEO Jack Dorsey here.Previously, Block had made progress with a five-nanometer mining chip prototype and received positive feedback from their foundry partner. This led them to further refine their design with the three-nanometer chip, which is now completed, showcasing competitive performance with cutting-edge semiconductor technology. This advancement comes as Bitcoin enters its fifth mining epoch post the fourth halving of the block subsidy.Block’s dedication to decentralizing mining is demonstrated by offering both a standalone mining chip and a complete mining system. They believe this approach will encourage innovation and new applications within the mining industry. Feedback on challenges related to pre-sales discovery, purchasing processes, reliability, maintenance, software features, transparency, and post-sale support is welcomed from the mining community.

Today’s Announcement

Mining operators and enthusiasts are encouraged to share their insights and feedback with Block by emailing mining@block.xyz.



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