Block, the fintech company led by Jack Dorsey, formerly known as Square, has expanded its bitcoin mining initiatives from chip design to complete system development. Recently, Block announced the completion of its three-nanometer bitcoin mining chip and is currently refining the design in partnership with a top global semiconductor foundry. This advancement is part of a broader strategy to enhance the Bitcoin mining ecosystem.
Block aims to support the decentralization of mining by offering both standalone chips and full mining systems tailored to enhance accessibility and efficiency.
Historically, bitcoin mining has been a complex and niche activity. Jack Dorsey has emphasized making this process as simple as “plugging a rig into a power source,” a vision he articulated when Block first ventured into mining hardware in 2021. The company’s approach addresses the mining community’s concerns about hardware concentration—particularly in regions hostile to cryptocurrencies like China—which could potentially compromise network stability.
Block aims to decentralize the production and distribution of mining hardware, thus strengthening the resilience and competitiveness of the Bitcoin network. The company is also tackling the challenges related to the scarcity, high cost, and unpredictable delivery of mining rigs, making it easier for more people to participate in mining.
Furthering its commitment to a decentralized and sustainable future, Block’s venture arm has invested in Gridless, a company that develops bitcoin mining operations using renewable energy in Kenya, Malawi, and Zambia.
Block’s initiatives reflect a significant step toward making Bitcoin mining more accessible and robust, paving the way for a decentralized cryptocurrency ecosystem.
