Block Advances Bitcoin Mining System to Decentralize Hardware Supply
Jack Dorsey, co-founder of Block (formerly Square), has confirmed that Bitcoin payment integration is actively underway for Square and Bitkey. This development aligns with Block’s broader mission to expand its Bitcoin ecosystem, including mining hardware decentralization.
Key Takeaways
- Bitcoin Payments: Confirmed in progress for Square and Bitkey, though no specific timeline provided.
- Block’s Bitcoin Holdings: Owns 8,485 BTC (~$700 million), making it a major institutional holder.
- Mining Focus: Developing a full Bitcoin mining system after completing its 3nm mining chip.
Bitcoin Payments: A Strategic Priority
In response to an X user’s query about delayed Bitcoin payments, Dorsey emphasized the complexity of integration:
"Not a simple flip of a switch but we are doing it."
— Jack Dorsey (April 3, 2025)
Bitkey, Block’s self-custody hardware wallet (launched 2023), and Square, its point-of-sale platform, are central to this initiative. The integration aims to streamline Bitcoin transactions for merchants and individual users while reinforcing self-custody principles.
👉 Explore Bitkey’s self-custody features
Block’s Bitcoin Mining Ambitions
Decentralizing Mining Hardware
Block is developing a comprehensive Bitcoin mining system to address hardware centralization concerns. The project builds on its recently completed 3nm mining chip and leverages Block’s expertise in:
- Product/software development
- Supply chain management
- System engineering
Strategic Shifts
- Increased Investment: Focus on Bitcoin mining and Bitkey.
- Divestments: Scaling down Tidal (music streaming) and winding up TBD (decentralized web project).
FAQ: Bitcoin Integration and Mining
1. When will Bitcoin payments be available on Square?
No official timeline yet, but Block confirmed active development.
2. What makes Bitkey different from other wallets?
Bitkey emphasizes self-custody, eliminating reliance on third-party exchanges.
3. Why is Block investing in Bitcoin mining?
To decentralize mining hardware supply and support network security.
👉 Learn about Bitcoin mining innovations
Conclusion
Block’s dual focus on Bitcoin payments and mining decentralization positions it as a key player in shaping Bitcoin’s infrastructure. With Dorsey at the helm, the company continues to bridge institutional adoption with technological innovation.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
### Keywords
- Bitcoin payments
- Jack Dorsey
- Bitkey
- Square
- Bitcoin mining
- Decentralization
- Blockchain