January 23, 2022

Jack Dorsey's company plans to release its own ASIC miner

Jack Dorsey's company plans to release its own ASIC miner

Block (formerly Square) co-founder is looking for qualified individuals to design integrated circuits for bitcoin mining and hardware wallet.

Dorsey, a well-known bitcoin enthusiast, announced a new ASIC miner project last fall.

The project aims to solve problemsenergy consumption and environmental friendliness of cryptocurrency mining. The company plans to develop more efficient computer chips and power architecture so that all miners can fully rely on renewable energy sources.

Dorsey's green energy plan could provide a viable solution to the current energy challenges associated with mining crypto assets.

The second, no less ambitious task, whichthe Dorsey company decides, this is a strategy for supplying a hardware wallet to hundreds of countries. The team is working on a global, simple and secure self-service system for crypto transactions “for the next 100 million bitcoin users.”

Dorsey continues to dive into the crypto industry. Last year, he launched the tbDEX decentralized bitcoin exchange whitepaper. In 2020, Square invested $220 million in the first cryptocurrency.

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