Block, the company founded by Jack Dorsey, made an announcement on X on Tuesday, stating that they are currently working on a mining rig. Dorsey also shared a blog post written by Naoise Irwin, the lead for mining hardware products at Block. The blog post unveiled improvements in the chip design, with the company upgrading from a 5-nanometer (nm) process to a more advanced 3nm architecture.
Block Enhances Mining Technology
In a recent blog post and social media update by Jack Dorsey, Block revealed their plans to develop a mining rig. Naoise Irwin, the lead for mining hardware products at Block, explained that the initial reports from the mining development team mentioned the creation of a 5nm prototype. However, the design has now progressed to a 3nm process, and the company is moving forward with a full tapeout.
During the tapeout phase, every aspect of the chip’s design is finalized, including circuit design, physical layout, and verification processes. Irwin confidently stated that their chip will possess the necessary performance capabilities “required for mining operators of all types to survive and thrive in the fifth mining epoch and beyond.” Block’s entry into the production of application-specific integrated circuits (ASIC) comes at a time of intense competition.
For instance, Microbt, Bitmain, and Canaan have all released new mining rigs with improved hashrates and efficiency levels. Bitdeer has also entered the ASIC market by introducing the Sealminer A1 mining rigs and announcing their collaboration with Taiwan Semiconductor Manufacturing Company (TSMC) for the fabrication process. The Sealminer’s semiconductor is based on 4nm technology. Additionally, the manufacturer, Auradine, produces their own ASIC using 4nm silicon chip technology.
Irwin argues that with their independent mining chip, Block will be the only well-funded mining hardware vendor offering such a solution. The company’s blog post emphasized their hopes that this will encourage innovation in mining systems and contribute to the development of new mining system form factors and use cases. The product lead concluded by expressing the company’s eagerness to receive feedback from mining participants to gather further insights.
What are your thoughts on Block unveiling their 3nm chip production? Feel free to share your opinions and thoughts on this matter in the comments section below.