Jack Dorsey’s Block set to release new Bitcoin mining chips next week

Proto Mining, an initiative constructed by Jack Dorsey-led Block, will launch new Bitcoin mining chips subsequent week that it believes will assist democratize the mining ecosystem, stated Amrita Ahuja, the corporate’s chief monetary officer, in a Friday interview with CNBC’s ‘Squawk Field.’

Dorsey additionally hinted on the launch on X yesterday. The Bitcoin advocate just lately generated headlines for the rollout of Bitchat, a decentralized messaging utility.

subsequent week ⛏️ https://t.co/xf1qajTcpz

— jack (@jack) August 7, 2025

The transfer comes months after Block accomplished the event of a three-nanometer Bitcoin mining chip designed to boost effectivity and decentralization in Bitcoin mining. The corporate goals to change into a singular supplier of large-scale, well-capitalized mining {hardware}.

From Money App to BitKey, Dorsey and his group at Block are constructing a full-stack Bitcoin ecosystem. Ahuja advised CNBC at the moment that Block views Bitcoin as greater than an asset.

“We expect Bitcoin will be the open protocol that powers the web.” It could transfer on the pace of the Web. And we as an organization can transfer sooner,” she stated. “Our prospects, the effectivity at which their cash can transfer throughout jurisdictions is far better when Bitcoin is powering cash for the web.”

Ahuja stated Bitcoin could begin as “digital gold” however has the potential to evolve right into a usable forex, and the corporate intends to assist make that shift occur.

In response to her, eight million Block prospects have purchased or bought Bitcoin by the Money App platform. The corporate is planning on enabling Bitcoin funds for Sq. sellers, with 1000’s already signed up for the service.

“We expect it’ll doubtless be small to begin, nevertheless it’s one thing that we’re tremendous excited to see ramp over,” she stated.