2024-07-11
Block, Inc. is the company that operates Square Point of Sale and Cash App. Jack Dorsey is the co-founder of the
company.
While, Core Scientific is a company
that operates large-scale cryptocurrency mining farms.
Block, Inc. announced on July 10, 2024, that it had the first
customer of its 3 nanometer (3nm) ASICs mining chips is, Core Scientific
Inc., a leading Bitcoin mining company.
This sale is a milestone as it marks
Block’s entrance into the Bitcoin mining hardware market.
Block will supply Core Scientific with 15 EH/s
of new 3 nanometer ASIC mining chips
The 3nm ASICs are part of an ongoing project
between Block and Core Scientific to decentralize mining hardware, bringing
Block’s advanced mining ASICs, developed by their Proto team, into Core
Scientific’s large-scale mining operations.
The Proto team at Block is developing a
modular mining platform around the ASIC mining chip, which is expected to offer
several benefits over current mining system designs, including improved
efficiency, reliability, and uptime for large-scale mining operations.
The agreement also provides the option
for additional significant volume and is one of the industry’s largest Bitcoin
mining ASIC agreements in terms of hashrate.
This partnership aims to democratize
Bitcoin mining and contribute to the decentralization of the mining industry,
aligning with Core Scientific’s operational excellence and expertise in mining.
Together, they are working to define a
new paradigm for scaled Bitcoin mining, designed to deliver important
operational benefits while contributing to the longevity and vitality of the
Bitcoin Network.
