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Jack’s Block Reveals Plan For New Bitcoin Mining System

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In October of 2021 Jack announced: “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.”

Since then, Jack stepped down as the CEO of Twitter and has turned Square into Block. Committing Block to the mission of turning Bitcoin into the internet’s currency and making mining widely available for all.

Thomas Templeton from Block’s Bitcoin mining team announced that “we’re doing it… We want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining. We’re interested because mining goes far beyond creating new bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionless.”

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