Block: Proto Plans to Launch Bitcoin Mining Chips Made in the USA This Year to Mitigate Tariff Risks
Block CEO Jack Dorsey stated that the company is manufacturing Bitcoin mining chips, Proto, domestically in the U.S. to address rising tariffs and overseas manufacturing risks. The chip is planned to be launched in 2025, featuring an open-source design that emphasizes flexibility and direct collaboration with U.S. suppliers. Additionally, Block disclosed that its first-quarter gross profit reached $2.29 billion, a 9% year-over-year increase, with Cash App's gross profit rising 10% to $1.38 billion and Square's growing 9% to $898 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Euro: Firm Dollar keeps pressure on Euro before FOMC - Danske Bank
Smith & Nephew Accepts $250 Million of 2030 Notes in Tender Offer
Valeura Energy Makes Exploration Discovery in Gulf of Thailand
Webull Insider Sold Shares Worth $493,746, According to a Recent SEC Filing
Crypto prices
More
