THE INDEPENDENT UK
Square CEO Jack Dorsey says the company is starting a “deep technical investigation” to create an open-source Bitcoin mining system as the cryptocurrency rockets past $62,0000.
It comes as the price of Bitcoin reached orbit on Friday, passing $62,000 while threatening to pass the all-time high of $65,000.
“Silicon design is too concentrated into a few companies. This means supply is likely overly constrained. Silicon development is very expensive, requires long term investment, and is best coupled tightly with software and system design. Why aren’t more companies doing this work?” Mr Dorsey said in a tweet.
This is a developing story. It will be updated.
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