Jack Dorsey's Block Set to Release New Bitcoin Mining Chips Next Week

INFBusiness
15.08.2025
Mining

Key findings

Next week, Block Proto Mining will introduce new Bitcoin mining chips with the aim of making mining more accessible.
Block's Cash App platform has seen steady growth in the Bitcoin transaction and financial services space.

Proto Mining, the Jack Dorsey-led initiative owned by Block, will unveil new bitcoin mining chips next week that it believes will help democratize the mining ecosystem, Amrita Ahuja, the company's chief financial officer, told CNBC's Squawk Box on Friday.

Dorsey also hinted at the upcoming launch of X yesterday. The Bitcoin proponent recently brought the public's attention to the launch of Bitchat, a decentralized messaging app.

next week ⛏️ https://t.co/xf1qajTcpz

— Jack (@jack) August 7, 2025

The move comes just months after the company completed development of a 3-nanometer bitcoin mining chip, which is designed to improve the efficiency and decentralization of the mining process. The company aims to become a leading provider of high-quality and well-funded mining equipment.

From Cash App to BitKey, Dorsey and his team at Block are building a full Bitcoin ecosystem. Ahuja told CNBC today that Block views Bitcoin as more than just an asset.

“We believe that Bitcoin can be the open protocol that drives the internet. It can move at the same pace as the internet. And we as a company can move even faster,” she said. “The efficiency of moving money across jurisdictions for our customers is greatly enhanced when Bitcoin drives the internet.”

Ahuja noted that Bitcoin may start out as “digital gold,” but it has the potential to become a real currency, and the company intends to support that transition.

Eight million Block customers have bought or sold bitcoin through the Cash App platform, she said. The company plans to allow Square merchants to accept bitcoin as payment, and thousands of users have already signed up for the service.