Block Inc., under CEO Jack Dorsey, has announced plans to launch its open-source Bitcoin mining chip Proto in the second half of 2025, marking a significant move into the Bitcoin mining industry.
Launch Plans for Proto
During a recent earnings call, Dorsey revealed the company's intention to roll out the Proto chip in the latter half of 2025. This new hardware aims to simplify access to Bitcoin mining.
Decentralization Approach
Proto is focused on decentralizing the Bitcoin mining process. Dorsey highlighted the importance of collaborating with U.S. manufacturers to mitigate geopolitical risks. U.S.-based production demonstrates the company’s commitment to supply chain resilience.
Market Impact
Block's entry into Bitcoin mining hardware manufacturing could significantly impact the market, as revenue opportunities in this field are estimated between $3 to $6 billion annually. 'The Bitcoin hardware supply industry represents a significant revenue opportunity,' Dorsey stated.
The launch of Proto has the potential not only to generate revenue for the market but also to foster technological innovations in mining efficiency, thereby transforming the landscape for Bitcoin miners towards more decentralized and secure practices.
