Payments Giant Block to Build Open-Source Bitcoin Mining System

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.

  • Previously, BlockCEO 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
  • “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.
  • The company’s CEO has been an enthusiastic supporter of bitcoin, believing that the cryptocurrency has great potential.
  • Previously, BlockCEO 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

    “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.

    The company’s CEO has been an enthusiastic supporter of bitcoin, believing that the cryptocurrency has great potential.

    Source

    Subscribe to get our top stories