Block Partners with Core Scientific to Supply 3nm ASIC Mining Chips, Adding 15 EH/s

Jul 10, 2024, 05:11 PM

Block, Inc., led by Jack Dorsey, has announced a significant partnership with Core Scientific to supply new 3-nanometer ASIC mining chips. This collaboration aims to decentralize and democratize Bitcoin mining. Core Scientific will receive approximately 15 EH/s of hashrate from these advanced chips, marking one of the largest ASIC agreements ever signed. This deal positions Core Scientific as Block's first large-scale mining customer and represents a pivotal step in the Bitcoin mining industry. The stocks involved in the deal include $SQ and $CORZ.