Block, the Bitcoin company owned by former Twitter CEO Jack Dorsey, announced that it has made significant progress in its BTC mining project. The company has successfully developed a three-nanometer (nm) BTC mining chip and is in the final stages of production at a high-end global semiconductor foundry.
In addition to developing chips, Block also announced that it has developed a comprehensive “Bitcoin mining system.” This system aims to address the challenges faced by mining operators and promote the decentralization of mining.
Block CEO Jack Dorsey stated the company's commitment to this project and said, “We are building a mining rig.”
Block had previously taken steps to produce a five-nanometer mining chip prototype. According to the official statement, the prototype received positive feedback from the casting partner, meeting design goals and providing valuable information. Since then, the company in question has been working on a 3mm chip design for BTC mining.
Dorsey stated in his statement that his company has developed a full-scale mining system.
Dorsey resigned as Twitter CEO a while ago and devoted himself to Bitcoin development.
*This is not investment advice.