{"id":481042,"date":"2022-01-13T23:35:40","date_gmt":"2022-01-13T23:35:40","guid":{"rendered":"https:\/\/wncen.com\/?p=481042"},"modified":"2024-06-11T07:44:31","modified_gmt":"2024-06-11T07:44:31","slug":"jack-dorseys-block-looking-to-democratize-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/jack-dorseys-block-looking-to-democratize-bitcoin-mining\/","title":{"rendered":"Jack Dorsey\u2019s Block To Democratize Bitcoin Mining With Open Source Mining System"},"content":{"rendered":"<p>Block, formerly known as Square, is working on an open-source bitcoin mining system, according to CEO Jack Dorsey. He referenced a more detailed thread on the project\u2019s objectives by the company\u2019s general manager for hardware, Thomas Templeton.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We\u2019re officially building an open bitcoin mining system \u2728 <a href=\"https:\/\/t.co\/PaNc7gXS48\" rel=\"nofollow\">https:\/\/t.co\/PaNc7gXS48<\/a><\/p>\n<p>&mdash; jack (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/01500676?ref_src=twsrc%5Etfw\" rel=\"nofollow\">January 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Block Is Working On Bitcoin Mining<\/h2>\n<p>Thomas Templeton, Block&#8217;s general manager for hardware, set out the company&#8217;s next moves in a series of tweets.<\/p>\n<p>&#8220;From buying, to set up, to maintenance, to mining,&#8221; Templeton said, the goal is to make bitcoin mining \u2014 the process of creating new bitcoins by solving increasingly hard computing tasks \u2014 more dispersed and efficient in every aspect.<\/p>\n<p>According to Templeton, making the mining process more accessible is about more than just creating more bitcoin.<\/p>\n<p>Templeton <a href=\"https:\/\/twitter.com\/TempletonThomas\/status\/68987904?s=20\" target=\"_blank\" rel=\"noopener nofollow\">wrote:<\/a><\/p>\n<blockquote><p>\u201cWe want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining. We\u2019re interested because mining goes far beyond creating new bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionless.\u201d<\/p><\/blockquote>\n<p>The initiative is focused in combining performance and open-source design in a &#8220;elegant system integration,&#8221; according to Templeton. The company is looking for technologies and partnerships that could help the idea, which is currently being developed by Block&#8217;s hardware team. Afshin Rezayee is leading a dedicated team of engineers to the endeavor, and available positions include electrical engineers, software and analog designers, ASIC engineers, and layout engineers.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-481048\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/BTC_2022-01-14_00-28-30.png?resize=1478%2C865\" alt=\"\" width=\"1478\" height=\"865\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/BTC_2022-01-14_00-28-30.png?w=1478 1478w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/BTC_2022-01-14_00-28-30.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/BTC_2022-01-14_00-28-30.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/BTC_2022-01-14_00-28-30.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/BTC_2022-01-14_00-28-30.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/BTC_2022-01-14_00-28-30.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">BTC Market cap down from last year's ATH. Source: <a href=\"http:\/\/tradingview.com\" rel=\"nofollow\">TradingView<\/a><\/pre>\n<p>The bitcoin mining system developed by Block aims to improve three areas of bitcoin mining: availability, reliability, and performance. The goal is to make mining rigs easier to identify and buy, while also providing a consistent delivery experience; improve dependability by designing something that can better dissipate heat and dust; and boost performance while consuming less power.<\/p>\n<p><em>\u201cCommon issues we\u2019ve heard with current systems are around heat dissipation and dust. They also become non-functional almost every day, which requires a time-consuming reboot. We want to build something that just works,\u201d<\/em> Templeton tweeted. <em>\u201cThey\u2019re also very noisy, which makes them too loud for home use.\u201d<\/em><\/p>\n<p class=\"jeg_post_title\" style=\"text-align: center\"><em><strong>Related article |<\/strong> <a href=\"https:\/\/wncen.com\/news\/ethereum\/is-norton-360-mining-ethereum-in-your-computer-if-it-is-theyll-take-a-15-cut\/\">Is Norton 360 Mining Ethereum In Your Computer? If It Is, They\u2019ll Take a 15% Cut<\/a><\/em><\/p>\n<h2>Dorsey Wants To Democratize BTC Mining<\/h2>\n<p>The mission statement of this project includes democratizing bitcoin mining access.<\/p>\n<p>Dorsey wrote in October:<\/p>\n<blockquote><p>\u201cMining isn\u2019t accessible to everyone. Bitcoin mining should be as easy as plugging a rig into a power source. There isn\u2019t enough incentive today for individuals to overcome the complexity of running a miner for themselves.\u201d<\/p><\/blockquote>\n<p>The news corresponds to Dorsey&#8217;s announcements from 2021. Dorsey tweeted,<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. If we do this, we\u2019d follow our hardware wallet model: build in the open in collaboration with the community. First some thoughts and questions.<\/p>\n<p>&mdash; jack (@jack) <a href=\"https:\/\/twitter.com\/jack\/status\/42345995?ref_src=twsrc%5Etfw\" rel=\"nofollow\">October 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Block&#8217;s news comes only months after the United States overtook <a href=\"https:\/\/wncen.com\/news\/bitcoin\/why-did-china-ban-bitcoin-mining-here-are-the-seven-leading-theories\/\">China<\/a> as the world&#8217;s top bitcoin mining destination for the first time. Renewable energy sources abound in the United States.<\/p>\n<p>Hydropower mining farms flourish in Washington State. New York generates more hydroelectric power than any other state east of the Rocky Mountains, and its nuclear power plants contribute to the state&#8217;s objective of zero carbon electricity. Meanwhile, Texas&#8217; renewable energy contribution is increasing over time, with wind power accounting for 20% of the state&#8217;s power in 2019. In addition, the Texas grid continues to add more wind and solar power at a rapid pace.<\/p>\n<p>Block hasn&#8217;t given a specific date for when its bitcoin mining system would be available for purchase and use, since the company is still in the research phase of development. Templeton also encouraged members of the public to contact him if they had any concerns or suggestions for improving the initiative.<\/p>\n<p class=\"jeg_post_title\" style=\"text-align: center\"><em><strong>Related article |<\/strong><a href=\"https:\/\/wncen.com\/news\/bitcoin\/more-green-energy-crypto-mining-saves-a-hydro-power-plant-in-costa-rica\/\"> More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Block, formerly known as Square, is working on an open-source bitcoin mining system, according to CEO Jack Dorsey. He referenced a more detailed thread on the project\u2019s objectives by the company\u2019s general manager for hardware, Thomas Templeton. We\u2019re officially building an open bitcoin mining system \u2728 https:\/\/t.co\/PaNc7gXS48 &mdash; jack (@jack) January 13, 2022 Block Is Working On Bitcoin Mining Thomas Templeton, Block&#8217;s general manager for hardware, set out the company&#8217;s next moves in a series of tweets. &#8220;From buying, to set up, to maintenance, to mining,&#8221; Templeton said, the goal is to make bitcoin mining \u2014 the process of creating new bitcoins by solving increasingly hard computing tasks \u2014 more dispersed and efficient in every aspect. According to Templeton, making the mining process more accessible is about more than just creating more bitcoin. Templeton wrote: \u201cWe want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining. We\u2019re interested because mining goes far beyond creating new bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionless.\u201d The initiative is focused in combining performance and open-source design in a &#8220;elegant system integration,&#8221; according to Templeton. The company is looking for technologies and partnerships that could help the idea, which is currently being developed by Block&#8217;s hardware team. Afshin Rezayee is leading a dedicated team of engineers to the endeavor, and available positions include electrical engineers, software and analog designers, ASIC engineers, and layout engineers. BTC Market cap down from last year&#8217;s ATH. Source: TradingView The bitcoin mining system developed by Block aims to improve three areas of bitcoin mining: availability, reliability, and performance. The goal is to make mining rigs easier to identify and buy, while also providing a consistent delivery experience; improve dependability by designing something that can better dissipate heat and dust; and boost performance while consuming less power. \u201cCommon issues we\u2019ve heard with current systems are around heat dissipation and dust. They also become non-functional almost every day, which requires a time-consuming reboot. We want to build something that just works,\u201d Templeton tweeted. \u201cThey\u2019re also very noisy, which makes them too loud for home use.\u201d Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They\u2019ll Take a 15% Cut Dorsey Wants To Democratize BTC Mining The mission statement of this project includes democratizing bitcoin mining access. Dorsey wrote in October: \u201cMining isn\u2019t accessible to everyone. Bitcoin mining should be as easy as plugging a rig into a power source. There isn\u2019t enough incentive today for individuals to overcome the complexity of running a miner for themselves.\u201d The news corresponds to Dorsey&#8217;s announcements from 2021. Dorsey tweeted, Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. If we do this, we\u2019d follow our hardware wallet model: build in the open in collaboration with the community. First some thoughts and questions. &mdash; jack (@jack) October 15, 2021 Block&#8217;s news comes only months after the United States overtook China as the world&#8217;s top bitcoin mining destination for the first time. Renewable energy sources abound in the United States. Hydropower mining farms flourish in Washington State. New York generates more hydroelectric power than any other state east of the Rocky Mountains, and its nuclear power plants contribute to the state&#8217;s objective of zero carbon electricity. Meanwhile, Texas&#8217; renewable energy contribution is increasing over time, with wind power accounting for 20% of the state&#8217;s power in 2019. In addition, the Texas grid continues to add more wind and solar power at a rapid pace. Block hasn&#8217;t given a specific date for when its bitcoin mining system would be available for purchase and use, since the company is still in the research phase of development. Templeton also encouraged members of the public to contact him if they had any concerns or suggestions for improving the initiative. Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica<\/p>\n","protected":false},"author":538,"featured_media":481046,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361,3],"tags":[640,1017,1119,13179,3946],"class_list":["post-481042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","category-news","tag-bitcoin-mining","tag-block","tag-btc","tag-jack-dorsey","tag-square"],"acf":[],"yoast_head":"\n<title>Jack Dorsey\u2019s Block To Democratize Bitcoin Mining With Open Source Mining System<\/title>\n<meta name=\"description\" content=\"Block, formerly known as Square, is working on an open-source bitcoin mining system, according to CEO Jack Dorsey. 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