Jack Dorsey and Block are developing a complete Bitcoin mining system.

Block, a prominent global technology company focused on financial services, today unveiled significant developments in its Bitcoin mining project. The company has successfully completed development of a 3 nanometer (nm) Bitcoin mining chip and is currently in the final stages of design production with a leading global semiconductor foundry. According to the announcement, this achievement is an important milestone in Block’s mission to decentralize the supply of Bitcoin mining hardware and distribute hashrate effectively.

JUST IN: Jack Dorsey and Block "full development #Bitcoin Mining system." 🙌 pic.twitter.com/zfByRI8G1T

— Bitcoin Magazine (@BitcoinMagazine) April 23, 2024

In addition to chip development, Block also announced the development of a full-fledged “Bitcoin mining system” that aims to solve problems faced by mining operators and support mining decentralization. The company said it welcomes input from the Bitcoin mining community to improve the design and functionality of the system.

“We’re building mining rigs,” said Block CEO Jack Dorsey.

Previously, Block worked on manufacturing a 5-nanometer mining chip prototype and received positive feedback from its foundry partners, helping it achieve its design goals and teaching them valuable lessons. Since then, Block has been working on a 3-nanometer chip design, the company said.

Now that the 3-nanometer chip design has been successfully completed, Block says the chip leverages the most advanced semiconductor processes currently available, demonstrating competitive performance and enabling all types of mining operators to use Bitcoin as Bitcoin enters its fifth mining era. It says it will ensure that you can “prosper.” We publish the fourth halving of block grants.

Block’s commitment to supporting mining decentralization is evident in its plans to offer both standalone mining chips and full mining systems. The company said its standalone chips will make Block the only large-scale mining hardware provider with such a solution, encouraging innovation and new use cases in the mining industry.

The company solicits additional insight and feedback from the mining community on issues related to pre-sale discovery, purchasing process, reliability, maintenance, software functionality, transparency, and after-sale support.

Mining operators and enthusiasts are invited to share their thoughts and feedback with Block by contacting mining@block.xyz.