Jack Dorsey unveils Block’s new Bitcoin mining system

Block CEO Jack Dorsey announced the completion of an advanced Bitcoin mining chip, setting the stage for the launch of a comprehensive Bitcoin mining system.

This breakthrough in three-nanometer (nm) design marks a critical moment in the blockchain's ambitious project, which aims to decentralize Bitcoin's mining hardware supply and hashrate distribution.

Jack Dorsey's 3 NM Bitcoin Mining Chip

Dorsey's team partnered with a major global semiconductor manufacturer to successfully complete the full design rollout. This development follows an earlier prototype, a five-nanometer mining chip, that provided critical insights and validated the company's design process.

The new 3nm chip promises competitive performance. It aims to cater to mining operators following the fourth Bitcoin halving.

The Block initiative reflects a broader commitment to innovation and community engagement. The company has been soliciting feedback from the mining community to address challenges in the sector. This talk informed their approach to providing a standalone mining chip and a complete mining system designed in-house.

“Our goal is to support the decentralization of mining… We represent the only large, well-capitalized mining hardware supplier with this type of solution and introduce a product that stands out in the market,” Dorsey said.

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Block's extensive experience in product and software development is expected to increase market demand for the mining system. The company has shipped tens of millions of devices and plans to use this background to provide a unique mining solution that addresses the unique needs of today's Bitcoin miners.