Block, Core Scientific Unveil Plan for 15 EH/s Bitcoin ASICs
Jack Dorsey’s Block Inc., the fintech firm previously known as Square, is developing a modular mining platform for Core Scientific (NASDAQ: CORZ) to supply about 15 EH/s of bitcoin mining chips.
The two companies announced their partnership on Wednesday, stating that Block’s Proto team is co-designing the platform using its new 3-nanometer (nm) bitcoin mining ASICs in collaboration with ePIC Blockchain, a mining system developer who previously worked on Intel’s bitcoin mining ASICs.
The goal, according to the release, is to “simplify infrastructure demands and optimize the use of space and operational resources within data centers such as those operated by Core Scientific.”
Block first announced its 3-nm bitcoin mining ASICs in April as the chips headed to its foundry partner. It signed up Core as its first mining chip customer.
Russell Cann, Core Scientific’s chief development officer, claimed that the partnership not only supports the company’s infrastructure growth plans but “provides all mining companies with more miner options.”
This deal comes as competition in the bitcoin ASIC and hardware space intensifies, with more chip and system designers aiming to disrupt the market dominance held by Bitmain.
Last month, industry veteran Jihan Wu’s Bitdeer announced the roadmap for its SEAL bitcoin mining chips. In April, Marathon-backed Auradine raised $80 million in a Series B round after unveiling its next generation of miners in November, boasting an efficiency of 15 J/TH.
As reported in March, Zetagig, a U.S. upstart fabless chip designer backed by co-founders of Genesis Digital Assets, revealed its Z1 bitcoin ASIC chip as the latest entrant to the bitcoin mining hardware market.
