$BTC
🔥 Block announced an open-source Bitcoin mining chip called Proto 🔥
⚡ Block plans to launch the Proto chip in 2025.
⚡ A significant entry into the Bitcoin mining sector.
⚡ Focus on decentralization and manufacturing in the United States.
⚡ Block announces an open-source Proto chip for Bitcoin mining.
* Jack Dorsey, CEO of Block Inc., announced during a recent earnings press conference that the company plans to launch an open-source Proto chip for Bitcoin mining in the second half of 2025.
* Aiming for decentralization in Bitcoin mining, the Proto chip from Block represents a strategic step towards manufacturing hardware.
* The shift towards developing hardware internally is expected to impact the cryptocurrency mining market by providing alternatives to foreign technologies.
* Jack Dorsey stated: "The Bitcoin hardware supply sector represents a significant revenue opportunity, estimated to be worth between 3 and 6 billion dollars annually." Dorsey confirmed Block's ability to generate substantial revenue by tapping into an annual market valued between 3 and 6 billion dollars.
* The focus on production in the United States addresses concerns related to global supply chains and tariffs, enhancing Block's vertical integration strategy.
* Dorsey expressed confidence in effectively addressing these challenges through local partnerships.
