• Block – the company formerly known as Square and run by Jack Dorsey of Twitter fame – is planning to launch a “mining development kit (MDK)”.
• The kit includes basic bitcoin mining rig components, like software, open-source firmware, a hash board, a controller board and more.
• Jack Dorsey has always been an advocate for Bitcoin and blockchain technology, with his company Square being one of the early institutional pioneers of the crypto space.
Block Launching Mining Development Kit (MDK)
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). The goal is to establish a do-it-yourself bitcoin and crypto mining kit that retailers and individuals can use to extract their own units from the blockchain.
Components of MDK
The MDK will include basic bitcoin mining rig components like software, open-source firmware, a hash board, a controller board, and „lots of documentation.“ Naoise Irwin – the mining hardware senior product lead at Block – explained in a recent blog post: We anticipate the MDK being useful for development projects focused on integrating bitcoin mining into various novel use cases – such as heating solutions, off-grid mining, home mining, or intermittent power applications – as well as optimization of bitcoin mining hardware for traditional commercial mining operations.
Jack Dorsey: A Big Bitcoin Fanatic
Dorsey has always been a big bitcoin fanatic; In 2018 he stated he felt bitcoin had what it took to become the world’s sole currency in the next ten years. Prior to COVID he was also planning an African tour meant to shed light on blockchain technology and digital payments.
Square Pioneering Crypto Space
In addition to this personal advocacy for Bitcoin and Blockchain technology; his company Square was one of the early institutional pioneers of the crypto space. In October 2020 they became one of the first institutions to add Bitcoin to its balance sheet with multiple buys amounting up to $200 million worth of BTC.
To conclude; Jack Dorsey’s company Block is planning on launching an MDK which would enable retailers and individuals alike to start extracting their own units from blockchain technology; while also educating them about digital assets in general – boosting appreciation and adoption within this growing space in turn.