08.08.2025 16:14
Next week, Block, the financial technology company founded by Jack Dorsey, will unveil its groundbreaking new Bitcoin mining chips, a development first hinted at by Dorsey himself on X. This launch, spearheaded by Block's Proto Mining initiative, represents a significant step towards democratizing Bitcoin mining and making it more accessible to a wider range of participants.
Amrita Ahuja, Block's CFO, confirmed the impending release during a CNBC interview, emphasizing the company's belief that these advanced, three-nanometer chips will drastically improve efficiency and contribute to a more decentralized Bitcoin network. This follows months of intensive development, culminating in what Block envisions as a unique position as a major supplier of high-performance, well-funded mining hardware.
Beyond the hardware, Block's commitment to Bitcoin extends far beyond mere mining. The company's strategy is ambitious, aiming to create a comprehensive Bitcoin ecosystem. This includes significant growth in Bitcoin transactions on its Cash App platform, boasting eight million users who have already bought or sold Bitcoin, and future plans to integrate Bitcoin payments for Square sellers, a program already attracting thousands of participants.
Ahuja articulated Block's long-term vision for Bitcoin, extending beyond its current perception as a store of value. Block sees Bitcoin not simply as "digital gold," but as a potential foundation for a faster, more efficient internet-based financial system. They believe Bitcoin's potential to facilitate cross-border transactions with unprecedented speed is unparalleled, creating a more fluid global economy. This ambition fuels their ongoing efforts to support the transition of Bitcoin from a digital asset to a widely used currency, driven by a belief in its power to revolutionize how we interact with money online. The company's extensive involvement in the Bitcoin space, from its own mining operation to its widely used Cash App, illustrates a multifaceted approach to fostering Bitcoin's growth and adoption.
