Jack Dorsey says Block is building a bitcoin mining system so that anyone can easily buy a rig

from Thomas Templeton, Block's general manager for hardware, laying out the plans for the project.

"We're interested because mining goes far beyond creating new bitcoin. We see it as a long-term need for a future that is fully decentralized and permissionless," he said. Templeton listed several"customer pain points" and technical challenges in current mining rigs that Block aims to tackle, such as the high cost, power consumption and availability.

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