Block Launches Open-Source Bitcoin Mining Chip ‘Proto’ to Shake Up Industry

Jack Dorsey’s Block, formerly known as Square, is entering the lucrative world of Bitcoin mining with a bold move: the launch of an open-source chip named Proto. Scheduled for 2025 release, this hardware aims to disrupt the multibillion dollar mining industry dominated by giants like Bitmain, MicroBT, and Canaan. Speaking during Block’s Q1 2025 earnings call, CEO Jack Dorsey confirmed the project is on track without delays and credits their domestic manufacturing strategy for this advantage. By relying on US-based suppliers and manufacturers, Block aims to sidestep global trade tensions and tariffs.