Block building own bitcoin mining system, finishes development of 3nm chip

In a blog post on Tuesday, Block said it has finished the development of its own 3nm bitcoin mining chip and is now in the process of working through the design with a “leading global semiconductor foundry.” Block also unveiled plans to broaden out the scope of its mining project to include system design. “We’ve spent a significant amount of time talking to a wide variety of bitcoin miners to identify the challenges faced by mining operators,” Block said. “Building on these insights and pursuant to our goal of supporting mining decentralization, we plan to offer both a standalone mining chip as well as a full mining system of our own design.”