2024-7-11 21:00 |
Today, Block, Inc. (NYSE: SQ) and Core Scientific (Nasdaq: CORZ) have announced a new partnership focused on further decentralizing mining hardware. This collaboration introduces Block's advanced 3 nanometer (3nm) mining ASICs, created by their Proto team, to Core Scientific's large-scale mining operations.
Core Scientific, a leader in Bitcoin mining, is now the first to integrate Block’s new ASIC technology into their operations. These 3nm chips, representing approximately 15 EH/s (exahashes per second) of hashrate, mark one of the most significant agreements in the industry by hashrate volume.
“This agreement is a good example of how we envision our mining products pushing forward the advancement and decentralization of the mining industry,” Block's Proto team lead Thomas Templeton stated. “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 designed a modular mining platform around their ASIC chip to enhance efficiency, reliability, and uptime. According to a press release sent to Bitcoin Magazine, this aims to simplify infrastructure demands and optimize operational resources in data centers, focusing on sustainability by integrating with existing infrastructure.
“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,” Core Scientific Chief Development Officer Russell Cann explained. “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, ensuring compatibility with Core Scientific's infrastructure. Earl Mai, CTO of ePIC Blockchain Technologies, highlighted the collaboration's commitment to redefining efficiency and reliability in large-scale operations.
"By integrating Block's cutting-edge ASIC chips with an eye toward integration into Core Scientific's advanced infrastructure, we are set to deliver a modular mining platform that redefines expectations for efficiency and reliability in large-scale operations,” Mai said.
Proto’s primary goal 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, including the Mining Development Kit (MDK), which is currently in beta. The agreement with Core Scientific marks a step toward decentralizing mining by enabling third parties to build tailored solutions using Proto’s mining chips.
For more information on Block’s agreement with Core Scientific, visit mining.build.
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