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Block Will Build An Open Bitcoin Mining System


Block (formerly Square, Inc.), a global financial technology service provider, announced that it will build an open bitcoin mining system. Block founder and CEO Jack Dorsey said via Twitter on the 13th that the company will officially build an open bitcoin mining system. Block first revealed in October 2021 that the plan is under consideration. Block hardware manager Thomas Templeton said via Twitter on the 13th that the goal of the project is to make bitcoin mining "more decentralized and efficient." He mentioned that Block hopes to solve the pain points and technical challenges encountered by mining customers, including the popularity of mining racks, high price, reliability and power consumption. For most people, mining racks are fairly hard to find, and even when they do, they're very expensive and have unpredictable arrival dates, Templeton said. "We want to make it easy for everyone to buy mining racks." He said that Block is building a team of hardware engineers and software designers to solve the problem.
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