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Block confirms plans to build an open Bitcoin mining system


Recap: Block CEO Jack Dorsey back in October teased the company’s interest in building custom silicon to mine Bitcoin. He presented a laundry list of concerns that need to be addressed including making mining more decentralized, efficient and accessible as well as expanding silicon development beyond the handful of companies that currently specialize in this area.

Block has confirmed plans to move forward with the project. Thomas Templeton, Block’s general manager for hardware, reiterated the importance of making mining more distributed and efficient seeing as it goes far beyond the creation of new coins.

Block’s team spoke with members of the mining community and found that for most, mining rigs are expensive and delivery can be unpredictable. Reliability is also an issue as things like heat dissipation and dust build up can contribute to frequent crashes that require reboots. “We want to build something that just works ...


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