Payments Giant Block to Build Open-Source Bitcoin Mining System

Block, formerly known as payments company Square, is going ahead with its plan to build an open-source bitcoin mining system, according to a Tweet from Thomas Templeton, Block’s general manager for hardware.

  • “We want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining,” Templeton tweeted.
  • He also tweeted the company is open to making new ASICs (specialized bitcoin mining computers), and has started evaluating various IP blocks, open-source miner firmware and other system software offerings.
  • Block has started hiring to build out a core engineering team.
  • Previously, Block CEO Jack Dorsey tweeted on Oct. 15 that the company was planning to build a mining system based on custom silicon and open source for individuals and businesses worldwide.
  • Dorsey has been an enthusiastic supporter of bitcoin, believing the cryptocurrency has great potential.

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