Core Scientific New Mining Chips from Block to Boost Hashrate by Nearly 15 EH/s
Block, Inc. (SQ) and Core Scientific (CORZ) have entered into a landmark agreement that will see Core Scientific receive Block’s newly developed 3-nanometer mining ASICs, enhancing Core Scientific’s hashrate by approximately 15 EH/s (exahashes per second).
This collaboration marks one of the most significant advancements in Bitcoin mining technology, setting a new benchmark in the industry.
our first mining chip customer! https://t.co/JgdTEa8Cdj
— jack (@jack) July 10, 2024
As announced on July 10, the agreement between Block and Core Scientific involves the supply of Block’s cutting-edge 3-nanometer ASICs, developed by Block’s Proto team.
These ASICs are expected to substantially boost Core Scientific’s mining capacity, which currently stands at 24.6 EH/s, by nearly 15 EH/s.
“The primary purpose of Proto’s mining initiative is to increase the decentralization, transparency, and resiliency of the bitcoin network,” the companies stated in a joint press release.
The initiative includes developing mining chips, systems, and software solutions, such as the Mining Development Kit (MDK), currently in beta testing.
Thomas Templeton, lead of the Proto team at Block, emphasized the significance of this collaboration:
“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.”
Block, co-founded by Jack Dorsey, has been increasingly involved in cryptocurrency and decentralized technology since its rebranding from Square in December 2021.
The company’s venture into bitcoin mining began in October 2021,
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