Jack Dorsey’s Block completes Bitcoin mining chip, announces development of full system Jack Dorsey’s Block completes Bitcoin mining chip, announces development of full system
The company is now finalizing a full tape out of the chip at a leading global semiconductor foundry, marking a substantial upgrade from its earlier five-nanometer prototype.
2 min read
Updated: Apr. 23, 2024 at 11:14 pm UTC
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Jack Dorsey’s firm Block has unveiled a significant advancement in Bitcoin (BTC) mining technology with the completion of its three-nanometer (3nm) mining chip.
The company is now finalizing a full tape out of the chip at a leading global semiconductor foundry, marking a substantial upgrade from its earlier five-nanometer prototype.
The new chip targets improved efficiency and decentralization in Bitcoin mining, aligning with industry needs as it transitions into the fifth mining epoch after the recent fourth halving of the block subsidy.
Drawing on the success of the tested 5nm chip prototype — which met all design expectations and yielded vital data — Block has optimized the 3nm chip to enhance performance and support mining operators in a fiercely competitive market.
According to the firm, these insights played a crucial role in developing the 3nm chip, which enhances mining hardware performance and enables miners to remain competitive in a challenging market.
Fully mining system
Beyond the standalone mining chip, Block is also pioneering a complete mining system. The system capitalizes on the company’s expertise in product and software development, system engineering, robust supply chain management, and comprehensive customer support. It aims to introduce innovations and improvements in mining hardware form factors and use cases.
The firm plans to leverage this integrated approach to spur innovation in mining hardware configurations and functional applications, thus meeting a broader range of miner needs.
Block said it has been engaging directly with the Bitcoin mining community to pinpoint challenges and areas for improvement across several aspects of mining operations, including pre-sales discovery, purchasing processes, hardware reliability, maintenance, software features, transparency, and post-sales support.
The company has invited the mining community to continue offering feedback to further refine and enhance its products. Those interested can share their experiences and suggestions via the designated contact email as Block continues to update and expand its mining hardware solutions.
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Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Block
Block (formerly Square) is a financial technology (fintech) company founded by Twitter Co-Founder Jack Dorsey and fellow entrepreneur Jim McKelvey in 2009.
Jack Patrick Dorsey, born on November 19, 1976, is a testament to the American dream of innovation and entrepreneurship.