Square Might Jump Into Bitcoin Mining Game

Square CEO Jack Dorsey recently tweeted that Square is looking into “a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.” This means that the company might focus on Bitcoin mining soon.

Dorsey Claims Bitcoin Mining Should Be Easy

If this does happen, Dorsey stated that Square would follow the hardware mining wallet model.

Jesse Dorogusker runs Dorsey’s team, and they plan to study the technology necessary to get this project running. The basic idea is to incubate a Bitcoin mining system project inside Square’s hardware team.

According to Dorogusker, building a strong silicon core is just the beginning. If done correctly, this kind of project can support the whole world.

Dorsey also stated that mining should be more distributed. He’s aware that a highly decentralized network means that the Bitcoin network is more resilient. However, Dorsey believes that mining should be “as easy as plugging a rig into a power source.”

Additionally, Dorsey discussed Bitcoin’s carbon footprint, stating that driving forward a clean energy use is great for the coin.

What’s more, the US states are working hard to bring in Bitcoin miners after the China ban. For example, Washington is suitable for hydro-powered mining farms, and New York produces more hydroelectric power than any other state.

Moreover, Texas is also focused on renewable energy, and its political leaders are pro-crypto.