Former Twitter CEO’s Company Successfully Designs A Game Changing Bitcoin Mining Chip

On Apr 24, 2024

Block company successfully designed three manometer chips for a new bitcoin mining rig, Block CEO confirmed.

Block is a popular Bitcoin-focused company owned by the former CEO of Twitter (which is currently known as X) Jack Dorsey. In Nov 2021, Dorsey stepped down from the Twitter CEO role, to contribute his full time to Bitcoin-related development works. At the time he announced that he would design a new Bitcoin mining device so that people in the world could easily mine Bitcoin just like plugging a GPU device into the computer motherboard.

For the last couple of years, Dorsey was silent on his Bitcoin-related development activities but finally, he broke his silence and disclosed that his company successfully designed a 3 nm chip for a newly designed Bitcoin mining rig.

This new Bitcoin mining system seeks to tackle the obstacles encountered by mining operators while fostering the decentralisation of mining operations.

Initially, the company started to work on a 5 nm chip design but later positive response from its partners injected a better level of confidence in the efforts of this company. Currently, this company is in the final stage of production of a 3nm chip.

Bitcoin mining & challenges

It is worth it to note that currently Bitcoin mining operations are mainly under the control of big companies, it is because Bitcoin mining operations are highly complicated tasks.

For instance, a very small-scale Bitcoin miner needs to have a high-end GPU PC, high-speed internet connection, & additional knowledge to connect the PC with a Bitcoin mining pool to start mining.

All the basic processes involved in Bitcoin mining remain very complicated for less techy people, & this is the reason why huge numbers of people don’t prefer to think about Bitcoin mining.

But now the newly designed Bitcoin mining system will not only provide a better level of efficiency to Bitcoin mining operations but also a better level of decentralisation to the Bitcoin network.