Jack Dorsey announces that Block is going into Bitcoin (BTC) mining

Block will start mining Bitcoin (BTC)

About a month and a half ago, Jack Dorsey announced that he was leaving Twitter, while retaining the management of his other company, Square. Rumors then arose of its desire to embark on Web 3.0.

A few days later, Square was renamed Block, further confirming Dorsey’s desire to do something concrete in cryptocurrencies and more particularly the BTC.

Yesterday, Jack Dorsey finally announced that Block was going to start mining Bitcoin. The announcement was made… on Twitter. It confirms information that dates from October and in which it was already a question for Block to eventually enter the mining industry.

👉 To read – The company Square is renamed Block: one more step towards the blockchain?

What bitcoin (BTC) mining will Block offer?

Thomas Templeton, who heads the hardware department at Block, clarified what would be the mining of BTC within his company.

According to Templeton, mining BTC at Block will be financially affordable and low maintenance. Thus, customers will have little maintenance to be done on a daily basis for better profitability. Besides, the hardware will be durable and it will not need to be restarted regularly.

To succeed in its project, Block will surround itself with a team of specialists including system engineers, as well as ASIC mining hardware specialists. Finally, Jack Dorsey and Block want to reduce the energy footprint of mining.

In other words, the objective is to be able to use the proof of work (Proof-of-Work or PoW) as today, but consuming less energy.

👉 Discover our article on cryptocurrency mining

Jack Dorsey and Block go all out in Bitcoin (BTC)

This Block announcement is not really a surprise. In fact, it has been several months since Jack Dorsey takes the defense of Bitcoin and moreover of the only BTC. Dorsey is a true bitcoin maximalist and has no interest in other cryptocurrencies.

The former Twitter CEO also believes Bitcoin will unite the world. Beyond his thoughts, we can only see Jack Dorsey’s enthusiasm for BTC and that all its activity is now devoted to it.

We will therefore now have to take a closer look at the official launch of BTC mining at Block. Time will tell if Block will look beyond just BTC like the company does today.

👉 Read – Jack Dorsey creates a fund to help Bitcoin (BTC) developers defend themselves legally

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About the Author : Benjamin Allouche

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Formerly a lawyer specializing in personal data and digital law, I quickly became interested in Bitcoin, blockchain technology and their legal implications. I am now an independent consultant and editor in the field of cryptocurrencies and blockchain.
All articles by Benjamin Allouch.

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