Jack Dorsey’s Block Finishes Development of Bitcoin Mining Chip

Digital payments company Block Inc., formerly known as Square, has finished the development of its Bitcoin mining chip as Chief Executive Jack Dorsey continues to advocate for a more accessible and decentralized system — an effort he’s championed since 2021.

The three-nanometer chip could be a major player in the fast-growing mining industry because such chips are a key component in creating some of the most advanced computers.

The chip, which powers specialized computers to mine Bitcoin, has been a bottleneck for any newcomers to compete with the incumbent as the development process can be time-consuming and laden with ...