Jack Dorsey, founder of Twitter and now great blockchain guru, may be achieving a colossal challenge: creating the perfect chip for mining cryptos.

The crypto industry is like artificial intelligence… Open the cabinet of any bitcoin mining factory for example. What do you find? Entire racks of Geforce RTX graphics cards from NVidia. It’s a bit like the Air Jordan of a whole bunch of sectors of activity, the best with the best cost-calculation capacity ratio. Twitter founder Jack Dorsey wants to gradually reduce this “NVidia dependence” which is still very strong within the crypto industry.

His company, Block, just presented an entire system of specialized mining architecture, organized around a chip that they started designing a year ago. This will quickly be put into production “at a reputable foundry”, explains Block without further details. A 3 nanometer chip that is more efficient, faster and consumes less energy than the standard 5 nanometer chip from the Chinese company Bitmain which is the reference.

Arms race after halving

Jack Dorsey wants to think like an architect, a bit like ARM. We don’t just sell you a chip, we sell you the technology and the complete mining system. All this comes after complex work of gathering requirements among large American miners, who urgently need new, more precise and faster systems.

Especially since the halving (see our “Understand everything” on the subject here) has just halved their remuneration in bitcoins for each block produced. They therefore need to produce faster and in greater quantities to maintain their margins.

Source: https://www.bfmtv.com/crypto/le-fondateur-de-twitter-va-lancer-des-puces-pour-miner-les-cryptos_AV-202404260584.html

Leave a Reply

Your email address will not be published. Required fields are marked *