​Square payment company plans to release its own bitcoin miner

What's new? The chief of the payment giant Square, Jack Dorsey, has published a report in which he considers the possibility of producing his own bitcoin mining device.

Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community. First some thoughts and questions.— jack⚡️ (@jack) October 15, 2021

“Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community.”

What is known about the future of the miner? The new system is designed to make the industry more decentralized and increase the reliability of the bitcoin network. As Jack Dorsey stated, he wants to make mining of the first cryptocurrency available to everyone again.

If the decision to start this project is made, one of the company’s current employees, Jesse Dorogusker, will head the Square hardware product development department.