Jack Dorsey’s fintech company Block Inc. announced on Tuesday that it has completed the development of its advanced Bitcoin mining chip, marking an important milestone for the firm’s mining project.
Decentralizing Bitcoin Mining
Per a statement shared by Dorsey over Twitter, Block’s three nanometre (3mn) Bitcoin mining chip is now in the process is completing its full design tapeout with a leading semiconductor foundry.
“Our mining chip will utilize the most advanced semiconductor process currently available and will deliver the performance required for mining operators of all types to survive and thrive in the fifth mining epoch (the period following the recent 4th halving of the block subsidy) and beyond,” wrote Block.
The fifth mining epoch officially began last Friday after Bitcoin block 840,000, notching Bitcoin’s fixed block subsidy down from 6.25 BTC to 3.125 BTC per block. Aside from changes in the price of Bitcoin and network transaction fees, this decrease marks a
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