Block, formerly known as payments company Square, is going ahead with its plan to build an open-source bitcoin mining system, according to a Tweet from Thomas Templeton, Block's general manager for hardware.
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Previously, BlockCEO Jack Dorsey tweeted on Oct. 15 that the company was planning to build a mining system based on custom silicon and open source for individuals and businesses worldwide
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“We want to make mining more distributed and efficient in every way, from buying, to set up, to maintenance, to mining,” Templeton tweeted.
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He also tweeted the company is open to making new ASICs (specialized bitcoin mining computers), and has started evaluating various IP blocks, open-source miner firmware, and other system software offerings.
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Block has started hiring to build out a core engineering team.
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The company’s CEO has been an enthusiastic supporter of bitcoin, believing that the cryptocurrency has great potential.