The popular payments company, formerly known as Square, is venturing into the Bitcoin mining business, as confirmed by the boss in a tweet on January 14.
Block’s general manager for hardware, Thomas Templeton, stated that the firm was hiring a team in an effort to make mining “more distributed and efficient in every way, from buying, to set up, to maintenance, to mining,” before adding:
“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.”
We’re officially building an open bitcoin mining system https://t.co/PaNc7gXS48
— jack (@jack) January 13, 2022
Bitcoin Mining Business
The Bitcoin mining ambitions were initially unveiled in October when Dorsey said that the firm was considering building a Bitcoin mining system “based on custom silicon and open source for individuals and businesses worldwide.”
Block wants to make Bitcoin mining accessible to anyone from
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