Jack Dorsey founder and CEO of Block, Inc., a financial payments company announced that they are developing an open Bitcoin mining system to lower the entrance barrier in Bitcoin. The new open Bitcoin mining system will be available to everybody, including small and new miners, allowing users to mine from the comfort of their own homes.
Because of the high costs associated with Bitcoin mining technology, the mining business is now primarily concentrated in the hands of a few major players. Block is making a fresh push to become more decentralised. Therefore, the organisation has already hired new employees and assembled a team.
According to the company’s general manager for hardware, Thomas Templeton, the team began by meeting with the bitcoin mining community to understand more about their experience, pain points, and overall needs in order to identify potential areas of work for Block. The work also entailed assessing current equipment and system software solutions.
As the firm concentrates on the research stage of product development, Block has not offered a date for when their bitcoin mining system would be ready for purchase and use. Templeton also encouraged the community to contact him if they had any questions or suggestions that may benefit the initiative.
