© Reuters.
Investing.com – Block Inc (NYSE:) Founder and CEO Jack Dorsey, former Twitter (NYSE:) boss, confirmed last night that the company, formerly known as Square (NYSE:), is planning to move forward with its plans to build a bitcoin mining system.
“We are officially building an open bitcoin mining system,” Jack Dorsey tweeted Thursday.
Remember that Dorsey had mentioned intentions in this direction as early as last October:
In a later tweet, he opined that “e-mining is not accessible to everyone”, and that “e-mining bitcoins should be as easy as plugging a rig into a power source”.
Thomas Templeton, Block’s Chief Hardware Officer, made similar comments in his tweets yesterday, noting that the project’s goal is to make mining “more distributed and efficient”.
Making bitcoin mining accessible to everyone
Templeton explained that the company believes there are a number of “customer pain points” and “technical challenges” when it comes to Bitcoin mining, issues that Block hopes to address.
“For most people, bitcoin mining devices are hard to find. Once you manage to track them down, they are expensive and delivery can be unpredictable,” Templeton explained.
He also talked about the problems that can be encountered in the maintenance of Bitcoin mining devices or their configuration.
“How can we make it easy for anyone, anywhere to buy a mining rig?” he added.
Templeton said Block is building a hardware team of engineers and software designers to come up with the right solutions.
This therefore implies that Block could offer a complete Bitcoin mining solution, including hardware and operating and maintenance software systems.
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