Jacques Dorsi’s bloc to launch an open source bitcoin mining chip

Jack Dorsi (which was previously called in the box) is deeper into Bitcoin with a big thing-an open source mining chip called Proto. It is scheduled to be launched for the year 2025, Block Block can get rid of the area of ​​bitcoin mining devices ranging from 3 to 6 billion dollars, as giants have ruled such as points, microbes and sneaks for years.

Speak during Q1 2025 profits CallCEO Jacques Dorsi said that the company is on the right path with development and does not expect delay, mainly because the slide is fully built in the United States.

By relying on manufacturers and local suppliers, Dorsi pointed out that block mining devices will not be affected by global trade tensions or the ongoing tariff war that involves the United States and some of its commercial partners.

“We have very close relationships with our sellers and manufacturers, and we are building in the United States,” Dorsi said.

Proto is developed as a leading bitcoin mining, but it is not only about mining. Dorsi confirmed that it is part of the entire open source initiative. This means that developers and miners can access the design, provide comments, and even build on it.

“This is a fully open source initiative … it allows us to get a lot of comments from society and also merge any improvements immediately and build a completely new environmental system about mining that has not been widely done before,” Dorsi added.

According to Block, the nature of Chip Open Open Open will open the door to new platforms, experiences and products, helping to decentralization and create mining space-the first is this range.

Block to Bitcoin’s batch comes at a critical time. The company is looking to diversify its revenue flows after the slow Q1 performance.

For the first quarter of 2025, Block I mentioned $ 2.29 billion in total profit, an increase of 9 % on year. Most of this came from the cash application ($ 1.38 billion, an increase of 10 % on an annual basis) and a square (898 million dollars, an increase of 9 % on an annual basis). However, profits are still less than expectations.

Blockda also published 813 million dollars, but both App Cash and arrow profits were less than expected, causing the company’s shares to decrease by 21.20 %.

In addition to pressure, Block reduced the total profit growth forecast for 2025 from 15 % to 12 % and has shared the Q2 drop by $ 2.45 billion, below the Wall Street estimates.

In a statement, the company cited the total economic environment and reduce consumer spending for weaker guidelines:

“We are working in a more dynamic Macro environment, so we reflect a more cautious position on the total expectations of our instructions for the rest of the year.”

Bitcoin decreased during Q1 Lit Forcations Radation. The company recorded an unrealized loss of $ 93.4 million in Bitcoin’s possessions – a great swing of $ 233.4 million in the last quarter. Bitcoin’s revenues also decreased sharply, as it decreased by 15.7 % on an annual basis to $ 2.30 billion, which represents a clear setback for encryption work.

However, Jack Dorsi does not retreat.

It puts the upcoming Bitcoin mining chip in the company, Proto, as a major part of the transformation strategy. Proto is designed in the United States and designed to encourage developer innovation, and reflects Block batch to sculpt the space in the mining devices market of $ 6 billion. The company says it launches new features in the coming months aimed at improving profitability and enhancing the user’s retention in the second half of the year.

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