{"id":4169,"date":"2023-05-01T08:49:52","date_gmt":"2023-05-01T12:49:52","guid":{"rendered":"http:\/\/leadingcryptonews.com\/block-making-headway-with-custom-bitcoin-mining-asic-progress\/"},"modified":"2023-05-01T08:49:52","modified_gmt":"2023-05-01T12:49:52","slug":"block-making-headway-with-custom-bitcoin-mining-asic-progress","status":"publish","type":"post","link":"https:\/\/leadingcryptonews.com\/block-making-headway-with-custom-bitcoin-mining-asic-progress\/","title":{"rendered":"Block Making Headway With Custom Bitcoin Mining ASIC Progress"},"content":{"rendered":"


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Block Inc (formerly Square), the payments company founded by former Twitter CEO Jack Dorsey, has updated its progress in developing its own Bitcoin mining hardware.<\/strong><\/p>\n

In a recent announcement, the business acknowledged the problem of industry concentration but that it was still moving ahead with its commitment.<\/p>\n

Block\u2019s ASIC Release Update<\/h2>\n

In October 2021, Jack Dorsey expressed interest in building a Bitcoin mining system. He visioned a distributed, efficient, open, and accessible mining system. Which in turn would make the Bitcoin network more resilient for individuals and businesses.<\/p>\n

At the time, the tech mogul had pointed at a centralization problem. A problem within the silicon design space and the supply of Bitcoin mining ASICs. This stands for Application-Specific Integrated Circuits. In this case, chips and machines built specifically to optimize proof of work on Bitcoin.<\/p>\n