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Block’s Bitcoin Mining, Retail Payment Slowdown In Focus For Q1 Earnings

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Block is gearing up to offer a bitcoin mining starter pack to increase the number of miners and improve the security of the cryptocurrency’s network.

, a starter pack for developers to begin experimenting with bitcoin mining and finding ways to innovate in the sector. Block’s ambition is to offer an entire system for bitcoin mining, complete with the hardware and software necessary to lower the barrier to entry.in 2021, announcing the company was considering getting into the mining business. “The core job of a miner is to securely settle transactions without the need for trusted 3rd parties.

“A lot of the general enthusiasm around the crypto ecosystem has waned,” Kupferberg says. “In addition to that, Block has been pretty vocal for the past year or so about carefully managing investments in initiatives that have much longer dated payback potential and return on investment potential.”

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