Block, Inc. (NYSE: SQ) and Core Scientific (Nasdaq: CORZ) have announced an agreement to supply Core Scientific with Block’s new 3 nanometer (3nm) mining ASICs, built by the Proto team, representing approximately 15 EH/s (exahashes per second) of hashrate. The agreement provides the option for additional significant volume, and is one of the industry’s largest bitcoin mining ASIC agreements announced, in terms of hashrate.
The Proto team at Block is developing a modular mining platform around its ASIC mining chip to offer an integrated bitcoin mining solution that is designed to simplify infrastructure demands and optimize the use of space and operational resources within data centers, and prioritizes sustainability and compatibility by integrating with existing infrastructure and promoting the reuse of non-ASIC elements of the hardware stack.
“This agreement is a good example of how we envision our mining products pushing forward the advancement and decentralization of the mining industry,” explains Thomas Templeton, Lead of the Proto team at Block. “Core Scientific is known for its high standards of operational excellence, advanced infrastructure, and deep expertise in mining. We are excited to break new ground by teaming with a leading mining operator to build a unique, tailor-made mining solution leveraging our ASICs.”
“We have worked closely with the team at Block to develop the next generation of mining technology that not only helps support our significant hashrate growth plans within our existing infrastructure, but also provides all mining companies with more miner options,” said Russell Cann, Core Scientific Chief Development Officer. “Together, Block and Core Scientific are working to define a new paradigm for scaled bitcoin mining, one designed to deliver important operational benefits while contributing to the longevity and vitality of the Bitcoin Network.”