Jack Dorsey’s Block Inc. recently announced the Proto Rig, a modular reinvention of Bitcoin mining hardware not seen since Bitmain’s launch of the S1 ASIC rig in 2013, over 12 years ago. The announcement was made from the facilities of Core Scientific with whom Block has partnered to design, test and develop the Proto line of mining hardware. Dorsey personally attended the event, among a who’s who of the Bitcoin mining industry. 

The Proto Rig has the potential to disrupt and challenge Bitmain’s effective monopoly over mining hardware manufacturing, with approximately over 80% of the market, a position it has enjoyed for most of Bitcoin’s history. But the main…

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