• Block – formerly known as Square and run by Jack Dorsey of Twitter fame – is looking into building a „mining development kit (MDK)“ that can be used to extract bitcoin.
• The goal of the MDK is to help educate more people about digital assets and potentially boost appreciation and adoption of the space.
• Jack Dorsey has always been a big supporter of Bitcoin, and his company, Square, was one of the first institutional pioneers of the crypto space.
Block Wants to Boost Bitcoin Mining Opportunities
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. Dorsey and his crypto-fanatical cronies are hoping this will help to educate more people about the growing world of digital assets and potentially boost appreciation and adoption of the space. Block wrote in a social message that it will share more details on the kit in the coming weeks and months. However, it was quick to mention the kit would include basic bitcoin mining rig components like software, open-source firmware, a hash board, a controller board, and „lots of documentation.“
Block Kit Components
Naoise Irwin – the mining hardware senior product lead at Block – explained in a recent blog post: We anticipate the MDK being useful for development projects focused on integrating bitcoin mining into various novel use cases – such as heating solutions, off-grid mining, home mining, or intermittent power applications – as well as optimization of bitcoin mining hardware for traditional commercial mining operations.
Jack Dorsey’s Support for Bitcoin
Dorsey has always been a big bitcoin fanatic, so the release of a new mining kit shouldn’t come as a major surprise to those who have been following his career and statements. In 2018, former Twitter executive stated he felt bitcoin had what it took to become world’s sole currency in next ten years meaning all other money would be obsolete unused come 2028. Also prior COVID Dorsey said he was planning tour African continent would last anywhere between three six months goal shed light benefits power blockchain technology crypto assets its produced help residents visited countries gain access new digital payment methods.
Square Pioneers Crypto Space
Dorsey’s done lot for BTC addition Square was one early institutional pioneers crypto space October 2020 company became one first institutions add bitcoin balance sheet engage solid digital currency purchase wasn’t long after engaged another buy company time owned more than $200 million BTC.
There’s no doubt that Jack Dorsey is passionate about Bitcoin; his enthusiasm has been evident both through his words but also through his actions with regards to Block’s plans for DIY BTC Mining Kits which could bring many benefits if adopted widely enough around the globe!