Jack Dorsey, the CEO of Block Inc, announced on Twitter that his firm is developing an open bitcoin mining system. The firm formerly known as Square has set its sights on new technologies like blockchain in order to diversify beyond its payment business.
Jack Dorsey’s Block is going to build an open bitcoin mining system
We’re officially building an open bitcoin mining system ✨ https://t.co/PaNc7gXS48
— jack⚡️ (@jack) January 13, 2022
In October, Dorsey said that Block was considering building a bitcoin mining system:
“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community. First some thoughts and questions.”
On Thursday, Block’s general manager for hardware, Thomas Templeton, outlined the company’s plans for creating the mining system in a tweet thread.
In October we announced that we’re considering building a bitcoin mining system, out in the open & alongside the community, and we’ve decided…we’re doing it! We thought we’d share some more details on how our initial discussions are going and where we’re headed next. https://t.co/wURxEKBpJ5
— Thomas Templeton (@TempletonThomas) January 13, 2022