Block, Inc. and Core Scientific Partner to Further Decentralize Mining Hardware
In a groundbreaking move for the cryptocurrency industry, Block, Inc. (NYSE: SQ) and Core Scientific (Nasdaq: CORZ) have announced a new partnership aimed at decentralizing mining hardware. This collaboration introduces Block’s cutting-edge 3 nanometer (3nm) mining ASICs to Core Scientific’s large-scale mining operations, marking a significant advancement in the field.
Core Scientific, a leading player in Bitcoin mining, is now the first to integrate Block’s new ASIC technology into their operations. These 3nm chips, which represent approximately 15 EH/s (exahashes per second) of hashrate, signify one of the most substantial agreements in the industry in terms of hashrate volume.
Thomas Templeton, lead of Block’s Proto team, expressed excitement about the partnership, stating, “This agreement is a good example of how we envision our mining products pushing forward the advancement and decentralization of the mining industry. Core Scientific is known for its high standards of operational excellence, advanced infrastructure, and deep expertise in mining. We are excited to break new ground by teaming with a leading mining operator to build a unique, tailor-made mining solution leveraging our ASICs.”
The Proto team has developed a modular mining platform around their ASIC chip to enhance efficiency, reliability, and uptime. This platform aims to simplify infrastructure demands and optimize operational resources in data centers, with a focus on sustainability by integrating with existing infrastructure.
Russell Cann, Chief Development Officer at Core Scientific, highlighted the significance of the collaboration, stating, “We have worked closely with the team at Block to develop the next generation of mining technology that not only helps support our significant hashrate growth plans within our existing infrastructure, but also provides all mining companies with more miner options. Together, Block and Core Scientific are working to define a new paradigm for scaled bitcoin mining, one designed to deliver important operational benefits while contributing to the longevity and vitality of the Bitcoin Network.”
In partnership with ePIC Blockchain Technologies, the Proto team co-designed the modular platform to ensure compatibility with Core Scientific’s infrastructure. Earl Mai, CTO of ePIC Blockchain Technologies, emphasized the commitment to redefining efficiency and reliability in large-scale operations through this collaboration.
The primary goal of Proto is to increase the decentralization, transparency, and resiliency of the Bitcoin network. This is achieved through open and transparent development of mining chips, systems, and software solutions. The agreement with Core Scientific represents a significant step toward decentralizing mining by enabling third parties to build tailored solutions using Proto’s mining chips.
For more information on Block’s partnership with Core Scientific, visit mining.build.
