Dorsey’s Block Finishes Design of 3nm Bitcoin Mining Chip, Eyes Full Systems

Digital payments firm Block (NYSE: SQ), co-founded by Jack Dorsey, announced on Tuesday that it had completed the design of a cutting-edge three-nanometer bitcoin mining chip. 

Block is now working with a leading global semiconductor foundry to finalize the chip’s production. This advancement brings the firm closer to its goal of offering a standalone bitcoin mining chip as well as a full mining system designed in-house.

According to Block, their mining chip will leverage the most advanced semiconductor manufacturing process available, putting it in a position to deliver top performance for miners into the fifth epoch or the period following bitcoin’s fourth halving event on April 19th, and beyond.

“With a standalone mining chip, we will represent the only large, well-capitalized mining hardware vendor with such a solution,” the company wrote. “We hope this will help unlock mining system innovation and new use cases.”

The move expands Block’s bitcoin mining ambitions beyond just chip design into full system development. The company aims to democratize bitcoin mining by offering more accessible and user-friendly mining rigs — as Dorsey said in 2021, mining should be as easy as plugging a rig into a power source. 

This philosophy underpins Block’s effort to verticalize the mining hardware supply chain through custom silicon design. With its considerable capital and expertise, the company could emerge as a major provider of mining chips and systems.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

Bitcoin Hash Rate Recovers After 38% Drop During Arctic Blast

Bitcoin’s hash rate plunged about 38% leading to the holiday weekend as extreme weather pushed...

Tuesday, December 27, 2022, 03:10:00 PM

Bluesky Secures $8 Million Seed Round, Introduces Paid Service

Bluesky, the decentralized social network protocol, has announced significant developments as it seeks to establish...

Thursday, July 6, 2023, 01:37:00 PM

Jack Dorsey Leaves Bluesky Board, Unfollows Almost Everyone on X

Jack Dorsey, co-founder of Twitter, has left the board of Bluesky, a decentralized social network...

Wednesday, May 8, 2024, 07:51:34 AM

Bhutan Has Been Secretly Mining Crypto For Years

Bhutan, a small kingdom located between China, India, and Nepal, has been quietly developing a...

Monday, May 1, 2023, 12:09:00 PM

Elon Musk Subpoenas Jack Dorsey as Twitter Buyout Battle Escalates

The battle of billionaires escalated on Monday, after Elon Musk subpoenaed co-founder and former Twitter...

Monday, August 22, 2022, 04:02:35 PM