Key takeout
- Block’s Proto Mining will launch a new Bitcoin mining chip next week to democratize the mining industry.
- Block’s Cash App Platform shows significant growth in Bitcoin transactions and financial services.
Proto Mining, an initiative built by Jack Dorsey-led blocks, is set to launch a new Bitcoin mining chip next week, which it believes will help democratize the mining ecosystem.
Dorsey also hinted at the release of X yesterday. Bitcoin Advocate recently generated deployment headings for Bitchat, a decentralized messaging application.
Next week ⛏️https://t.co/xf1qajtcpz
– Jack (@jack) August 7, 2025
This move comes months after the block completed the development of a 3-nanometer Bitcoin mining chip designed to enhance the efficiency and decentralization of Bitcoin mining. The company aims to become a unique provider of large-scale, capitalized mining hardware.
From cash apps to bitkeys, his team at Dorsey and Block are building a full-stack Bitcoin ecosystem. Ahuja told CNBC today that it views block Bitcoin as more than an asset.
“We believe Bitcoin will become an open protocol that will strengthen the Internet.” You can travel at internet speeds. And we can move faster as a company. “Our customers say that if Bitcoin supplies money for the internet, the efficiency in which their money can cross jurisdiction is much greater.”
Afja says that Bitcoin may begin as “digital gold,” but could evolve into a usable currency, and the company intends to help its shift.
She said that 8 million block customers buy or sell Bitcoin through the cash app platform. The company plans to enable Bitcoin payments for square sellers, with thousands already signed up for the service.
“I think it’s a little bit of a start, but seeing the lamp is something I’m very excited about,” she said.