Hardware as a Differentiator: Block's Unique Approach to Financial Services

Hardware as a Core Competency, The "Apple Ethos" in Payments, Business Model, Ecosystems and Playbooks

Block is building a 3nm Bitcoin mining ASIC. 

Huh? A financial company designing hardware on leading-edge process technology?

This news led me down a rabbit hole of research, and I’m sharing what I learned in a two-part series. 

To grasp Block's Bitcoin strategy, we first need to understand Block’s core businesses and hardware strategy. Part one will provide this essential context, while part two will explore their specific Bitcoin endeavors.

Yes, this is a change of scenery from discussing the typical logic companies (Intel, Nvidia, Arm, etc). But it’s a fun intellectual exercise and a reminder that hardware can enable creative solutions for common issues in daily life.

And hey, we could all use a quick break from the Generative AI hype dominating semiconductors, right?

Who is Block?

Block is the parent company of several financial tech companies, including Square and Cash App.

From Block’s 10K, 

On December 1, 2021, we changed our corporate name from Square, Inc. to Block, Inc. Block is …