Jack Dorsey’s company finalizes the development of a 3nm chip for Bitcoin mining: competition for Bitmain.
Block, a financial services and digital payments company, has successfully completed the development of a three-nanometer (3nm) chip for Bitcoin mining. According to the announcement posted on its website, alongside chip development, Block is working on creating a complete mining system. The company is open to feedback from the community to enhance the design and functionality of the system.
After the announcement, Jack Dorsey, CEO of Block, stated:
Production phases
The news follows the completion of the previous phase, during which a prototype of a five-nanometer (5nm) chip was developed and tested. The latest 3nm chip aims to ensure high performance, a crucial factor for operators looking to maintain competitiveness in the sector, especially after Bitcoin’s fourth halving.
The company aims to offer a standalone mining chip, positioning itself as a hardware provider for the mining industry. Block is in the final stages of completing the chip design, working closely with one of the world’s leading semiconductor manufacturers.
This strategy aligns with Block’s broader plans to decentralize the supply of hardware for Bitcoin mining.
