Jack Dorsey’s Block Is Building a Bitcoin Mining System

Financial services firm Block, previously known as Square, is officially engaged in creating a new, open-source bitcoin mining system, CEO Jack Dorsey announced Thursday on Twitter, referencing a more detailed thread on the project’s objectives by the company’s general manager for hardware, Thomas Templeton.

“We want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining,” Templeton wrote. “We’re interested because mining goes far beyond creating new bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionless.”

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