Payments service provider Square is looking to develop a bitcoin mining system, the company’s CEO Jack Dorsey tweeted on Friday.
- “Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide,” Dorsey tweeted.
- Dorsey wrote that if the payments service provider begins the initiative, that it would follow the open-source model it is using to build a hardware wallet.
- Square hardware lead Jesse Dorogusker will “start the deep technical investigation required to take on this project,” Dorsey tweeted and asked for public input on the project.
- Dorogusker is also leading the wallet project, tweeting in July that he was assembling a team to focus on that initiative.
- Dorsey has been an enthusiastic supporter of bitcoin, believing that the cryptocurrency has great potential. In August, he tweeted that TBD, Square’s new division focused on creating an open developer platform, is planning to build a decentralized bitcoin exchange.
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