• Block – formerly known as Square and managed by Jack Dorsey – is releasing a do-it-yourself bitcoin mining kit.
• The kit will include basic components such as software, open-source firmware, and a hash board.
• Jack Dorsey has been outspoken in his support of crypto assets and blockchain technology.
Block to Unveil New Do-It-Yourself BTC Mining Kits
Block – the company formerly known as Square and run by Jack Dorsey of (past) Twitter fame – is looking into building what it’s calling a „mining development kit (MDK). The goal is to establish a do-it-yourself bitcoin and crypto mining kit that retailers and individuals can use to extract their own units from the blockchain. Details on the kit will be shared in the coming weeks and months.
Components of MDK
The kit will include basic bitcoin mining rig components like software, open-source firmware, a hash board, a controller board, and „lots of documentation.“ Naoise Irwin – the mining hardware senior product lead at Block – explained in a recent blog post: We anticipate the MDK being useful for development projects focused on integrating bitcoin mining into various novel use cases – such as heating solutions, off-grid mining, home mining, or intermittent power applications – as well as optimization of bitcoin mining hardware for traditional commercial mining operations.
Jack Dorsey’s Support for Bitcoin
Jack Dorsey has always been a big bitcoin fanatic, so the release of a new mining kit shouldn’t come as a major surprise to those who have been following his career and statements. In 2018, the former Twitter executive stated he felt bitcoin had what it took to become the world’s sole currency in the next ten years, meaning all other money would be obsolete and unused come 2028. Also, prior to COVID, Dorsey said he was planning a tour of the African continent that would last anywhere between three and six months. The goal was to shed light on the benefits and power of blockchain technology and digital assets it’s produced.
Square’s Involvement with Crypto Assets
In addition to this personal enthusiasm for Bitcoin from Dorsey himself – Square was one of the early institutional pioneers of this space. In October 2020 – Square became one of first institutions to add Bitcoin to its balance sheet – thus engaging in digital currency purchase . It wasn’t long after that Square engaged in another buy – owning more than $200 million worth of BTC at one time point .
By releasing its own DIY Bitcoin Mining Kit – Block hopes this will help educate more people about Digital Assets , potentially boosting appreciation & adoption towards them .