Block Develops Prototype Chip for Crypto Mining

Jack Dorsey’s Block has announced the completion of a prototype open source Bitcoin mining ASIC chip.

This endeavor was undertaken in an effort to reduce centralization of mining and related equipment, and thus “optimize innovation and expand the ecosystem” of cryptocurrency mining.

The chip utilizes 5nm technology, which the company purchased from Intel.

In April, Intel ceased sales of the Blockscale line of miners, allowing Block to “experiment with new designs” and ultimately bring more efficient and affordable mining equipment to the market.

The project was first proposed by Dorsey in 2021 and in March 2023 the company announced a “Bitcoin mining developer kit” that includes several tools for customization.

In the same month, Dorsey also revealed the launch of a division for the development of the Lightning Network micropayment network, dubbed with =.