Jack Dorsey, the co-founder of Twitter and the CEO of Block, Inc., an American financial service provider, believes that Block has created better Bitcoin mining chips than China.
Speaking during Block’s Q1 2025 earnings call, CEO Jack Dorsey confirmed the launch of the Bitcoin mining chips. Proto plans to release new Bitcoin mining chips on August 14, 2025. The firm aims to make mining hardware more widely available without relying on China for mining chips.
The U.S. leads in Bitcoin mining hash rate, but China dominates the manufacturing of mining rig equipment. President Trump’s tariff policy targeting China raises concerns for the U.S. mining industry.
This initiative to release new Bitcoin mining chips could reduce reliance on Chinese manufacturers and change how Bitcoin mining works globally. An X user asked Grok if the Block Proto unit has “out engineered” China on Bitcoin mining chips, as it would turn the industry upside down. To which, Dorsey replied, “we have,” suggesting Block’s chips are superior.
On August 13, 2025, the firm also announced its plan to raise $1.5 billion to support its projects. Bitcoin mining uses powerful computers to solve complex math problems and earn rewards, but most mining equipment comes from Chinese companies like Bitmain, Canaan, and MicroBT, which make over 90% of the world’s mining rigs.
The U.S. leads in mining power but relies on these Chinese imports. President Trump’s tariffs, including a 34% tax on Chinese goods starting in April 2025, have raised equipment costs by 22–36%.
Block, which was recently added to the S&P 500, is working to make Bitcoin mining chips in the U.S. Dorsey said in early 2025, “We’re building in the United States.” However, fully moving Bitcoin mining rig production to the U.S. will take years.
If the U.S. and China make a trade deal that lowers these tariffs, importing Chinese chips would become cheaper. However, as of now, the firm’s effort to release new Bitcoin mining chips is a step toward reducing reliance on Chinese hardware, potentially reshaping the global Bitcoin mining landscape.