Build Your Own Bitcoin Mining Rig with Block’s DIY Kit
• Block, the company formerly known as Square, is looking into building a do-it-yourself bitcoin and crypto mining kit.
• Jack Dorsey, who runs Block and was formerly of Twitter fame, hopes that this will help educate more people about digital assets and boost appreciation of the space.
• Square has been an early institutional pioneer in the crypto space by adding bitcoin to its balance sheet.
Block’s New Do-It-Yourself Mining Kit
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. This will hopefully help educate people about digital assets, boosting appreciation and adoption of cryptocurrency. The MDK will include basic components such as software, open-source firmware, a hash board, a controller board, and „lots of documentation.“
Jack Dorsey’s Crypto Fanaticism
Dorsey has always been an advocate for cryptocurrency. In 2018 he stated his belief that bitcoin could become the world’s sole currency within 10 years – meaning all other money would be obsolete come 2028. Prior to COVID he was planning a tour across Africa to spread awareness about blockchain technology and help give locals access to new digital payment methods.
Square’s Early Crypto Pioneering
In October 2020 Square became one of the first institutions to add Bitcoin to their balance sheets with solid purchases – eventually owning over $200 million worth of BTC at one time. They have continued their pioneering efforts in the crypto space since then – making them one of the earliest institutional supporters for cryptocurrency adoption.
Mining Development Kit Details
Block wrote in a social message that they will share more details on their mining development kit in coming weeks or months but commented it would include basic components like software, open source firmware, hash boards etc along with lots of documentation for those interested in incorporating this tech into projects related to heating solutions etc or optimizing traditional commercial mining operations.
Jack Dorsey has been an avid supporter for Bitcoin ever since its inception and his company Block aims to continue this trend with their new do-it-yourself mining development kit which they plan on releasing soon. This should further bolster support for cryptocurrency adoption while also educating people on how they can use these technologies efficiently themselves!