Key Takeaways:
- Block has sold its first batch of advanced 3-nanometer (3nm) mining chips, developed with ePIC Blockchain Technologies and Core Scientific.
- These ASICs will boost Core Scientific’s Bitcoin mining capacity by nearly 15 exahashes per second (EH/s), enhancing its current 24.6 EH/s capacity.
- Block aims to decentralize Bitcoin mining and improve efficiency, having begun its semiconductor development in 2021, including a 5nm prototype.
Block has finalized its first sale of advanced 3-nanometer (3nm) mining chips, developed in collaboration with ePIC Blockchain Technologies and Core Scientific.
These innovative application-specific integrated circuits (ASICs) will significantly boost Core Scientific’s Bitcoin mining capacity by nearly 15 exahashes per second (EH/s), adding to its existing 24.6 EH/s capacity.
Today, Core Scientific and @blocks announced an ongoing project involving Block’s latest bitcoin mining chip.
— Core Scientific (@Core_Scientific) July 10, 2024
-Core Scientific and Block will work together on a new miner to democratize Bitcoin mining
-Block to supply Core Scientific with ~15 EH/s of new 3 nanometer ASIC mining… pic.twitter.com/nWDnaSG4Tm
This sale marks a key step in Block’s efforts to decentralize the Bitcoin mining industry and enhance mining efficiency.
Block, known for its payment services Square and Cash App, began exploring Bitcoin mining in 2021 amid a global chip shortage.
our first mining chip customer! https://t.co/JgdTEa8Cdj
— jack (@jack) July 10, 2024
They have since developed their own semiconductor chips, including a 5nm prototype, and aim to make mining technology open source.
This collaboration underscores Block’s commitment to advancing Bitcoin mining through improved technology and decentralization.
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