Jack Dorsey’s Block to build an open bitcoin mining system – Reuters

Jack Dorsey’s Block to build an open bitcoin mining system – Reuters

Jan 13 (Reuters) - Block Inc (SQ.N) Chief Executive Officer Jack Dorsey said in a tweet on Thursday that the fintech firm is building an open bitcoin mining system, as the newly re-branded company looks to expand beyond its payment business and into new technologies like blockchain.

In October, Dorsey said that Block, formerly Square, was considering building a bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. (https://reut.rs/3I4KT1C)

In a tweet thread on Thursday, Block's general manager for hardware, Thomas Templeton, laid out the company's plans about building the mining system.