Block – the company formerly known as Square and run by Jack Dorsey of (past) Twitter fame – is looking into building what it’s calling a “mining development kit (MDK). Block Wants to Boost Bitcoin Mining Opportunities The goal is to establish a do-it-yourself bitcoin and crypto mining kit that retailers and individuals can use to extract their own units from the blockchain. Dorsey and his crypto-fanatical cronies are hoping this will help to educate more people about the growing world of digital assets and potentially boost appreciation and adoption of the space. Block wrote in a social message that it will share more details on the kit in the coming weeks and months. However, it was quick to mention the kit would include basic bitcoin mining rig components like
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Block – the company formerly known as Square and run by Jack Dorsey of (past) Twitter fame – is looking into building what it’s calling a “mining development kit (MDK).
Block Wants to Boost Bitcoin Mining Opportunities
The goal is to establish a do-it-yourself bitcoin and crypto mining kit that retailers and individuals can use to extract their own units from the blockchain. Dorsey and his crypto-fanatical cronies are hoping this will help to educate more people about the growing world of digital assets and potentially boost appreciation and adoption of the space.
Block wrote in a social message that it will share more details on the kit in the coming weeks and months. However, it was quick to mention the kit would include basic bitcoin mining rig components like software, open-source firmware, a hash board, a controller board, and “lots of documentation.” Naoise Irwin – the mining hardware senior product lead at Block – explained in a recent blog post:
We anticipate the MDK being useful for development projects focused on integrating bitcoin mining into various novel use cases – such as heating solutions, off-grid mining, home mining, or intermittent power applications – as well as optimization of bitcoin mining hardware for traditional commercial mining operations.
Dorsey has always been a big bitcoin fanatic, so the release of a new mining kit shouldn’t come as a major surprise to those who have been following his career and statements. In 2018, the former Twitter executive stated he felt bitcoin had what it took to become the world’s sole currency in the next ten years, meaning all other money would be obsolete and unused come 2028.
Also, prior to COVID, Dorsey said he was planning a tour of the African continent that would last anywhere between three and six months. The goal was to shed light on the benefits and power of blockchain technology and the crypto assets it’s produced and to help residents of visited countries gain access to new digital payment methods.
Dorsey’s Done a Lot for BTC
In addition, Square was one of the early institutional pioneers of the crypto space. In October of 2020, the company became one of the first institutions to add bitcoin to its balance sheet and engage in a solid digital currency purchase. It wasn’t long after that Square engaged in another buy, and the company – at one time – owned more than $200 million in BTC.
Irwin initially worked on Wall Street before transferring to Block in early 2023. He is also the co-founder of a solar heating company called Solar Flux. Regarding other bitcoin-related projects, Block has also donated $5 million to a new crypto mining facility being established by Elon Musk of Tesla (and now Twitter – what a coincidence) fame. It has also begun establishing its own bitcoin semiconductor chips.