Block’s New Bitcoin Mining Chip to Be Part of an Ongoing Project With Core Scientific to Decentralize Mining Hardware
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Bitcoin mining leader
becomes the first to procureCore Scientific Block ’s new ASIC technology for large-scale mining operations, built by the Proto team which leads the mining initiative and the self-custody wallet, Bitkey. - Joint project further underscores Proto’s commitment to fostering innovation and decentralization in the bitcoin mining ecosystem.
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In support of its mission to democratize bitcoin mining, the Proto team at Block is developing a modular mining platform around its ASIC mining chip to deliver an innovative, integrated bitcoin mining solution that offers several advantages over existing mining system designs, resulting in improved efficiency, reliability, and uptime in large-scale mining operations. It's designed to simplify infrastructure demands and optimize the use of space and operational resources within data centers such as those operated by
“This agreement is a good example of how we envision our mining products pushing forward the advancement and decentralization of the mining industry,” explains
“We have worked closely with the team at Block to develop the next generation of mining technology that not only helps support our significant hashrate growth plans within our existing infrastructure, but also provides all mining companies with more miner options,” said
With input from
"By integrating Block's cutting-edge ASIC chips with an eye toward integration into
Democratizing bitcoin mining: one step forward
The primary purpose of Proto’s mining initiative is to increase the decentralization, transparency, and resiliency of the bitcoin network. This is accomplished through building mining chips, systems, and software solutions, including the Mining Development Kit (MDK), currently in beta, in an open and transparent manner in partnership with the mining community.
The agreement with
Templeton added, “By adopting this approach, we aim to foster innovation and significantly expand the bitcoin mining hardware ecosystem. We are excited to see more projects of different types and sizes become possible with access to our vertically integrated hardware systems and mining chips, especially those that bring more innovation to the space.” The company aims to continue to enable other market players, big and small, to foster innovation and decentralization in the ecosystem.
About Block
About the Proto team at
Proto’s mission is to accelerate the transition to a more open, equitable global economy. We believe open protocols like Bitcoin are integral to achieving that vision. The team’s first two initiatives - mining tools and a self-custody wallet, Bitkey - aim to decentralize access for builders, increase network resiliency, and make everyday use of bitcoin safe and easy.
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