Future

Bitcoin

Block

April

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Block, co-founded by Jack Dorsey, has developed a 3-nanometer Bitcoin mining chip.</li>
 <li>The company aims to support decentralized mining and plans to offer standalone mining chips and a full mining system.</li>
</ul>
<p>Block, the digital payments firm co-founded by Jack Dorsey, has successfully developed a three-nanometer <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> mining chip.</p>
<p>The company is now collaborating with a leading global semiconductor foundry to finalize the chip’s design. This is a significant step towards Block’s goal of promoting decentralized mining, which includes offering standalone mining chips and a complete mining system.</p>
<h2 id="competitive-performance-and-future-plans">Competitive Performance and Future Plans</h2>
<p>The firm stated that their design shows competitive performance, and they are moving forward with the full tapeout. The mining chip will use the most advanced semiconductor process currently accessible. This will ensure that mining operators of all types can survive and prosper in the fifth mining epoch and beyond.</p>
<p>The fourth Bitcoin halving took place on April 19, reducing the mining reward from 6.25 BTC to 3.125 BTC. Block plans to be the only large, well-capitalized mining hardware vendor with a standalone mining chip solution. This could potentially stimulate innovation in mining systems and support the development of new mining system form factors and use cases.</p>
<h2 id="block-s-background-and-success">Block’s Background and Success</h2>
<p>Dorsey co-founded the social media platform previously known as Twitter (now X) in 2006, and the mobile payments company Square in 2009. Square was rebranded to Block in December 2021, reflecting a commitment to decentralized technology and cryptocurrency.</p>
<p>Block’s commitment to the economy remains steadfast, regardless of its growth or changes. In the fourth quarter of 2023, Block sold $2.52 billion worth of Bitcoin to customers, a 37% increase year-over-year. Moreover, the company’s payment app, Cash App, made a $66 million profit from selling Bitcoin, marking a 90% increase year over year.</p>

Block Unveils 3nm Bitcoin Mining Chip: Jack Dorsey Aims for Independent Mining System

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