Block (stock code: SQ), a financial services technology company led by Jack Dorsey, announced that it is cooperating with Bitcoin mining company Core Scientific to provide its self-developed and designed three-nanometer mining chips to Core Scientific's data center to scale up together. Bitcoin mining modes and optimized data center usage.

Block self-developed three-nanometer chip, specially designed for Bitcoin modular mining platform

Block announced in April that it has completed the development of three-nanometer chips for Bitcoin mining and plans to provide independent mining chips and a complete mining system designed by itself, aiming to become the only company to provide independent mining chip solutions. Large mining hardware supplier.

This ASIC mining chip designed by its Proto team represents a computing power of approximately 15 EH/s. The team developed a modular mining platform around this chip to provide an innovative integrated Bitcoin mining solution. The solution offers multiple advantages over existing mining system designs, resulting in improved efficiency, increased reliability and uptime for large-scale mining operations. It is designed to simplify infrastructure requirements and optimize the use of space and operational resources within data centers, such as those operated by Core Scientific, by integrating with existing infrastructure and facilitating the repurposing of non-ASIC elements of the hardware stack. Use to prioritize sustainability and compatibility.

The main purpose of the Proto mining project is to improve the decentralization, transparency and resiliency of the Bitcoin network. This is achieved by working with the mining community to build mining chips, systems and software solutions in an open and transparent manner, including the Mining Development Kit (MDK), which is currently in beta.

In addition to mining, Core Scientific is also looking for new sources of AI revenue

Bitcoin miners have been looking for ways to expand their income since the April halving, which reduced miner rewards. In June, Core Scientific signed a series of 12-year contracts with AI hyperscaler CoreWeave. The company expects the agreement to generate average annual revenue of approximately $290 million.

Core Scientific's Russell Cann said: "We are working closely with the Block team to develop next-generation mining technology that will not only help support significant computing power growth plans within our existing infrastructure, but also provide all mining companies with more Multiple mining machine options.

Block and Core Scientific are working together to define a new paradigm for scalable Bitcoin mining that can provide significant operational benefits while contributing to the longevity and vitality of the Bitcoin network.

Analysts at research and brokerage firm Bernstein have an outperform rating on Core Scientific, citing the company's hybrid bitcoin mining and artificial intelligence data center strategy.

Bitcoin miners are becoming attractive partners to build artificial intelligence data centers with "power interconnection" and data center operations capabilities.

This article Block develops its own three-nanometer chips and cooperates with Core Scientific to scale up the Bitcoin mining model. First appeared on Chain News ABMedia.