Monday, May 16, 2022
Home Crypto News Market Jack Dorsey Firm 'Block' To Develop Bitcoin Mining ASIC

Jack Dorsey Firm ‘Block’ To Develop Bitcoin Mining ASIC

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After stepping down as Twitter CEO in November last year, Jack Dorsey focuses his energies on Bitcoin.

Dorsey is looking for the “next generation” of bitcoin mining ASIC. A job for ‘Custom Digital Design Lead’ position was posted on LinkedIn from ‘Block,’ the job description says:

“You will be part of the custom silicon team in Block that develops bitcoin mining ASIC. In this role, you will work closely with other digital designers and mixed-signal designers to develop the next generation of mining ASIC.”

The job demands:

“BSEE degree or Applied Science degree (or higher) with 10+ years of related experience. Good understanding of the full design cycle from RTL to GDSII, including chip level. Experience with CDC, STA, LINT, DFT, IP, and Physical design flow (preferably Cadence flow).”

While there are competitors in the industry, it is worth noting that Bitmain has been the leading ASIC manufacturer for years. In addition, the company not only produces ASIC chips but also mine Bitcoin.

Even before he departed from Twitter, Dorsey left clear hints that he would focus on bitcoin expansion and developing such mining machines. In an October Twitter post, the former Twitter CEO pointed out five reasons for such an endeavor.

The first one is related to distribution, the decentralization of mining power. Dorsey criticized the concentration of mining manufacturing in the hands of a few companies and vowed to make it more decentralized. This was followed by efficiency, both in hardware and software.

As BTC mining has proved to be promising, this sector has become a big business, and because of that, there is less decentralization of mining. The top enterprises that can afford high-cost thousands of ASIC mining equipment can only profitably perform BTC mining. If Dorsey’s ideas are realized, it will be possible to mine BTC at home effortlessly.

Recently Ex Twitter CEO Jack Dorsey changed his payment firm ‘Square’ name To “Block” as part of an extensive push into Crypto. Twitter CEO Jack Dorsey also revealed his efforts to build a decentralized Bitcoin exchange and Confirmed Square Is creating a Bitcoin Hard Wallet.

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The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert Brown
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.


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