Block, a prominent global technology company focused on financial services, today revealed significant progress in its bitcoin mining project. The company has successfully completed development of its three-nanometer (nm) bitcoin mining chip and is now in the final stages of production of the design with a world-leading semiconductor foundry. This achievement marks a crucial milestone in Block's mission to decentralize the supply of bitcoin mining hardware and distribute the hashrate effectively, according to the advertisement.
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ONLY IN: Jack Dorsey and Block are "developing a complete twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin mining system." pic.twitter.com/zfByRI8G1T
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1782816007968506109?ref_src=twsrc%5Etfw”>April 23, 2024
In addition to the development of the chip, Block also announced the development of a complete “bitcoin mining system”, aiming to address the challenges faced by mining operators and support the decentralization of mining. The company said it welcomes input from the bitcoin mining community to improve the system's design and functionality.
“We are building a mining platform,” Block CEO Jack Dorsey x.com/jack/status/1782812921719902475″>fixed.
bitcoin-mining-asic-program/”>Previously, Block had made progress in manufacturing a five-nanometer mining chip prototype and received positive feedback from its founding partner, achieving its design goals and teaching them valuable learnings. Since then, Block has been working on the design of its three-nanometer chip, the company said.
Now, with the successful completion of the three-nanometer chip design, Block says the chip exhibits competitive performance by utilizing the most advanced semiconductor process currently available, ensuring that mining operators of all types can “thrive” now that bitcoin is in its fifth mining era. publish the fourth halving of the block subsidy.
Block's commitment to supporting mining decentralization is evident in its plans to offer both a standalone mining chip and a complete mining system. The company says its standalone chip will make Block the only large, well-capitalized mining hardware provider with such a solution, spurring innovation and new use cases in the mining industry.
The company is seeking more information and feedback from the mining community on challenges related to pre-sale discovery, purchasing processes, reliability, maintenance, software features, transparency and post-sale support.
Mining operators and enthusiasts were asked to share their thoughts and feedback with Block by contacting them at [email protected].
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