Jack Dorsey is all in on Bitcoin, and the leading cryptocurrency has increasingly become a focal point in the Square and Twitter CEO’s worldview. Today, he unveiled the latest potential piece of his plans, tweeting that Square is exploring whether to build Bitcoin mining hardware.
“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” he tweeted. “If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community.”
Dorsey laid out the reasoning in a tweet thread, noting the fact that increased distribution of cryptocurrency mining nodes helps secure a decentralized network.
He also wrote about the need for more energy-efficient mining, referencing one of the biggest mainstream discussion points around Bitcoin and crypto. It’s one that helped trigger the crypto market’s summer slump, after electric car maker Tesla protested the energy-intensive mi
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