Jack Dorsey's Bitcoin Push: A Noble Effort, But Will It Matter?

Block’s Bitcoin Mining Rig, Self-Custody Wallet, Aspirations, and Bitcoin Adoption Challenges

The announcement of Block's 3nm Bitcoin mining ASIC piqued my curiosity and led me to write a two-part series. Building upon last week's analysis of Block's business and hardware competency, we're now ready to dissect Block’s Bitcoin strategy and get our hands dirty with hardware details.

If you like business and product strategy, start at the top of this post, but if you only want hardware details, scroll down.

Capital Allocation

I have to admit, when I first heard about Block’s Bitcoin hardware aspirations, I was skeptical. As a Midwesterner, Bitcoin generally feels like a speculative investment or a Libertarian talking point.

That said, there are decent arguments we’ll explore below regarding why a digitally native currency could benefit consumers, especially with respect to a faster, better user experience and lower fees.

Betting on Bitcoin

It makes sense for Jack Dorsey to invest in making a native digital currency a reality, assuming that currency benefits consumers.  

After all, as…