{"id":12876,"date":"2024-04-24T12:23:46","date_gmt":"2024-04-24T09:23:46","guid":{"rendered":"https:\/\/forklog.com\/en\/jack-dorseys-block-develops-bitcoin-mining-chip\/"},"modified":"2024-04-24T12:23:46","modified_gmt":"2024-04-24T09:23:46","slug":"jack-dorseys-block-develops-bitcoin-mining-chip","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jack-dorseys-block-develops-bitcoin-mining-chip\/","title":{"rendered":"Jack Dorsey&#8217;s Block Develops Bitcoin Mining Chip"},"content":{"rendered":"<p>Jack Dorsey&#8217;s payment company, Block, has completed the development of a 3-nm chip for mining the leading cryptocurrency.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">we\u2019re building a mining rig <a href=\"https:\/\/t.co\/IKOQHNSHgO\">https:\/\/t.co\/IKOQHNSHgO<\/a><\/p>\n<p>\u2014 jack (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/1782812921719902475?ref_src=twsrc%5Etfw\">April 23, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In May 2023, the firm announced the creation of a prototype <span data-descr=\"application-specific integrated circuit \u2014 \u0438\u043d\u0442\u0435\u0433\u0440\u0430\u043b\u044c\u043d\u0430\u044f \u0441\u0445\u0435\u043c\u0430 \u0441\u043f\u0435\u0446\u0438\u0430\u043b\u044c\u043d\u043e\u0433\u043e \u043d\u0430\u0437\u043d\u0430\u0447\u0435\u043d\u0438\u044f\" class=\"old_tooltip\">ASIC<\/span> for bitcoin mining based on a 5-nm process.<\/p>\n<p>According to the statement, in the autumn, Block received the corresponding silicon wafers from its manufacturing partner.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThese samples met our design goals and provided valuable insights, confirming the chosen architecture and approach. Since then, we have been working on a 3-nm design,\u201d the team clarified.<\/p>\n<\/blockquote>\n<p>The company is now moving forward with creating a full-fledged bitcoin mining system based on its proprietary chip.<\/p>\n<p>In 2021, Dorsey revealed that Block (then Square) was considering developing an open-source device for mining the leading cryptocurrency.<\/p>\n<p>The team noted that as the program progressed, they spent \u201ca significant amount of time\u201d engaging with miners to identify the technical challenges they face.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBased on this information and in line with our goal of supporting mining decentralization, we plan to offer both a standalone mining chip and a complete system of our own design,\u201d the developers emphasized.<\/p>\n<\/blockquote>\n<p>The devices will be manufactured by an unnamed \u201cwell-capitalized mining equipment supplier,\u201d according to the statement.<\/p>\n<p>During the program to create an ASIC for bitcoin mining, Block purchased mining chips from Intel.<\/p>\n<p>In February 2022, the tech giant introduced its first mining integrated circuit, Bonanza Mine, and a rig based on it.<\/p>\n<p>Just two months later, the corporation announced the launch of the second-generation chip called Blockscale. Among the customers, besides Block, were Argo Blockchain, Hive Blockchain Technologies, and GRIID Infrastructure.<\/p>\n<p>Product deliveries to select clients began in July. However, by April 2023, Intel announced the discontinuation of Blockscale.<\/p>\n<p>In March 2024, the company founded by Jihan Wu, Bitdeer, <a href=\"https:\/\/forklog.com\/en\/news\/bitdeer-develops-4nm-chip-for-bitcoin-mining\">tested<\/a> a bitcoin mining chip, SEAL01, using 4-nm technology.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jack Dorsey&#8217;s payment company, Block, has completed the development of a 3-nm chip for mining the leading cryptocurrency. we\u2019re building a mining rig https:\/\/t.co\/IKOQHNSHgO \u2014 jack (@jack) April 23, 2024 In May 2023, the firm announced the creation of a prototype ASIC for bitcoin mining based on a 5-nm process. According to the statement, in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1346,1137,1330],"class_list":["post-12876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-block","tag-cryptocurrency-mining","tag-jack-dorsey"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12876"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12875"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}