Jack Dorsey, the CEO of Block (formerly Square), has revealed that the company will be placing a greater emphasis on its Bitcoin mining business. They have developed their own mining chip technology, boasting a 3-nanometer design that is currently in the collaborative design phase with one of the world’s leading chip manufacturers, Semiconductor Producer.
The in-house designed chip is just the beginning, as Block aims to develop a decentralized Bitcoin mining system where users can choose to either install the chips themselves or utilize the services offered by Block. Previously, Dorsey advocated for easy access to Bitcoin mining, with a user-friendly plug-and-play level of usability.
Despite these advancements, Block acknowledges that there are still several areas within the Bitcoin mining system that need improvement, such as equipment sales and delivery processes, maintenance, security, and data transparency. They are welcoming feedback to further enhance their operations.
Source: Block via CNBC
TLDR: Block, led by Jack Dorsey, is focusing on enhancing their Bitcoin mining business with the development of their own mining chip technology, aiming to create a decentralized mining system for user convenience.
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