• Block, the company formerly known as Square and run by Jack Dorsey of (past) Twitter fame, is looking into building a “mining development kit (MDK)” to help educate people about digital assets.
• The MDK will include components like software, open-source firmware, a hash board, a controller board, and documentation.
• Dorsey has long been an advocate for Bitcoin and blockchain technology; his company Square became one of the first institutions to add bitcoin to its balance sheet in 2020.
Block Unveils New Do-It-Yourself BTC Mining Kits
Block – the company formerly known as Square and run by Jack Dorsey of (past) Twitter fame – is looking into building what it’s calling a „mining development kit (MDK). This do-it-yourself bitcoin and crypto mining kit would allow retailers and individuals to extract their own units from the blockchain. Block will share more details on the kit in the coming weeks and months.
Components of MDK
The mining hardware senior product lead at Block Naoise Irwin explained that the MDK will include basic bitcoin mining rig components like software, open-source firmware, a hash board, a controller board, and „lots of documentation.“ It is expected to be useful for development projects focused on integrating bitcoin mining into various novel use cases such as heating solutions or off-grid mining.
Dorsey’s Advocacy for Bitcoin
Jack Dorsey has always been a big fan of Bitcoin; In 2018 he stated he felt that it had what it took to become the world’s sole currency in 10 years. Prior to COVID he was planning a tour of Africa with the goal of shedding light on blockchain technology and helping residents gain access to new digital payment methods. Additionally his company became one of the first institutions to add Bitcoin to its balance sheet in 2020.
Aim Behind MDK
The purpose behind creating MDK is twofold: firstly it aims to educate more people about growing world of digital assets thus potentially increasing appreciation and adoption; secondly it provides retailers with opportunities for home mining or intermittent power applications thus optimizing traditional commercial mining operations.
Jack Dorsey has always been an avid supporter of cryptocurrencies so his latest innovation comes as no surprise – nor does its aim which is not only educational but also practical in nature. The release date for this ‚do-it-yourself‘ BTC Mining Kit is yet unknown but we can expect further details soon!