Chip

Bitcoin

Block

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<ul class="news-points">
 <li>Block Inc. has completed the development of its Bitcoin mining chip.</li>
 <li>The firm confirmed that it is also developing a full Bitcoin mining system.</li>
 <li>Block first confirmed the move in 2021 and is also working on a hardware crypto wallet.</li>
</ul>
San Francisco-headquartered digital payments company, Block Inc., formerly known as Square, has announced the completion of its Bitcoin mining chip development. This marks a major step in Chief Executive Jack Dorsey’s ongoing efforts to promote a more accessible and decentralized system.
The newly developed three-nanometer chip capable of powering specialized computers for<a href="https://coinedition.com/paypal-backs-crypto-solution-for-greener-bitcoin-mining/" rel="noopener noreferrer nofollow"> Bitcoin mining</a> operations has set a benchmark for new entrants. It is important to note that the creation of such chips is a time-consuming and costly process.
Block Inc. stated in a Tuesday<a href="https://www.mining.build/latest-updates-3nm-system/" target="_blank" rel="noopener noreferrer nofollow"> announcement</a>:
<blockquote class="wp-block-quote">
 “This marks an important milestone in our Bitcoin mining project. Additionally, with our chip design complete, we are excited to share that we are developing a full bitcoin mining system.”
</blockquote>
Notably, Dorsey had initially<a href="https://twitter.com/jack/status/1449110239442345995" target="_blank" rel="noopener noreferrer nofollow"> announced</a> Block’s efforts to develop the Bitcoin mining system in 2021, coinciding with the introduction of a hardware wallet for the…
The post <a href="https://coinedition.com/jack-dorseys-block-has-completed-the-development-of-bitcoin-mining-chip/" rel="noopener noreferrer nofollow">Jack Dorsey’s Block Has Completed the Development of Bitcoin Mining Chip</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Jack Dorsey’s Block Has Completed the Development of Bitcoin Mining Chip

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