2024

Bitcoin

Block

April

Block, a digital payments company founded by former Twitter CEO Jack Dorsey, has <a href="https://www.mining.build/latest-updates-3nm-system/" target="_blank" rel="noreferrer noopener" data-wpel-link="external">completed</a> the development of its three-nanometer (nm) bitcoin mining chip. Additionally, the business is developing a comprehensive mining system to aid in the decentralization process. 
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 we’re building a mining rig <a href="https://t.co/IKOQHNSHgO" target="_blank" data-wpel-link="external">https://t.co/IKOQHNSHgO</a>— jack (@jack) <a href="https://twitter.com/jack/status/1782812921719902475?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">April 23, 2024</a>
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This development underscores Block’s commitment to decentralizing the supply of Bitcoin mining hardware and distributing hashrate. 
Block has reached a noteworthy milestone by finishing the design of its three-nanometer (nm) bitcoin mining chip and is working with a worldwide semiconductor foundry to finalize production.&nbsp; 
The <a href="https://www.cryptotimes.io/2023/05/01/jack-dorseys-bitcoin-mining-chip-prototype-design-completed/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">successful production of a five-nanometer prototype</a> and a thorough evaluation by the mining community preceded the development of the chip. With the use of the most recent semiconductor technology, Block’s mining chip seeks to deliver the competitive performance necessary for miners to prosper in the changing bitcoin mining market. 
The company plans to offer both standalone mining chips and full mining systems. With the introduction of a standalone mining chip, Block positions itself as a unique, well-capitalized vendor in the market.&nbsp; 
With the Bitcoin mining system, the company will expand upon its supply chain knowledge, aftermarket service capabilities, system engineering competencies, product and software development expertise, and tens of millions of devices deployed. 
Naoise Irwin, Senior Product Lead, Mining Hardware at Block said, ” With our bitcoin mining system, we will build on our product and software development expertise, system engineering competency, supply chain experience, and aftermarket support capability, with tens of millions of devices shipped. We intend to use this experience to bring a compelling, differentiated mining solution to market.” 
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 Some exciting news from our <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">#bitcoin</a> mining program: we have a state-of-the art 3nm chip headed to the foundry and we are building a new mining system! We'd love your insight into the problems and issues with current mining hardware and software – please reach out with your…— Naoise Irwin (@naoise) <a href="https://twitter.com/naoise/status/1782744654774927471?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">April 23, 2024</a>
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Block invites input from the mining community to address challenges in pre-sales discovery, purchasing, reliability, maintenance, software features, transparency, and post-sales support. 
Mining operators and fans were invited to send Block with their ideas and comments. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/22/bitcoin-miners-rake-in-record-106-7-million-75-from-fees/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Bitcoin Miners Rake in Record $106.7 Million, 75% from Fees</a> 
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Block Develops 3nm Bitcoin Mining Chip, Next Mining System

The Crypto Times

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