Latest news with #ProtoFleet
Yahoo
3 days ago
- Business
- Yahoo
Jack Dorsey wants to make Bitcoin mining as reusable as SpaceX rockets
Jack Dorsey wants to make Bitcoin mining as reusable as SpaceX rockets originally appeared on TheStreet. Jack Dorsey is trying to do for Bitcoin mining what Elon Musk did for rockets. His company Block has launched Proto Rig and Proto Fleet, a hardware and software package designed to make mining machines reusable, upgradable and far more efficient than anything on the market today. Before SpaceX changed the game, rockets were disposable. Each launch was a one-way trip, with hardware burning up in the atmosphere or falling into the ocean. Musk's team spent years working toward a different model. In December 2015, a Falcon 9 rocket successfully landed its first stage back on Earth after delivering satellites to orbit. The breakthrough meant the same rocket hardware could be launched again and again, dramatically cutting costs. Proto Rig applies that same principle to Bitcoin mining. Most miners today use shoebox-style rigs such as the Antminer S21 or WhatsMiner M60 that last about three to five years before becoming obsolete. Upgrading usually means replacing the entire machine, which can cost thousands of dollars per unit and generate large amounts of e-waste. Proto Rig instead uses a modular design. The hashrate-producing boards can be swapped out while the rest of the machine keeps running. Block says it is as simple as loading a dishwasher. This keeps racks online, avoids shipping heavy equipment, and extends the lifespan of a mining unit to about ten years. The company claims operators could save up to 20 percent per upgrade cycle. Bitcoin mining is getting harder Bitcoin mining works like a giant global lottery where miners compete to solve cryptographic puzzles. The more computing power, or hashrate, a miner has, the greater their chances of winning the block reward. In April 2024, the fourth Bitcoin halving cut rewards from 6.25 BTC to 3.125 BTC. That slashed revenue for miners at a time when the network's mining difficulty reached record highs above 83 trillion, according to profits tighten, efficiency is everything. A typical Antminer S21 produces about 200 terahashes per second at an efficiency of 17.5 joules per terahash. Proto Rig aims to improve space and power efficiency by fitting three miners' worth of boards into the footprint of two, producing 1.5 times more power per rack foot than top-tier shoebox machines. It also works with both modern and legacy electrical systems, maximizing available capacity. The software factor Hardware is only part of the problem. Large mining operations often run thousands of machines spread across multiple sites. Managing them requires juggling different software tools for diagnostics, power scaling and maintenance. Proto Fleet is Block's attempt to streamline that. It is a free, open-source platform that consolidates these functions into a single dashboard. It can run on-premises, in the cloud or in a hybrid setup, aiming to cut downtime and reduce troubleshooting time. Why this could be a game changer Post-halving, the mining business is a race for efficiency. Miners who can squeeze the most hashrate out of the least amount of electricity and capital will be the ones who survive. SpaceX proved that reusability can change an industry. Rockets like the Falcon 9 booster have now flown more than 20 times, slashing the cost per launch and making commercial spaceflight viable at scale. If Proto Rig and Proto Fleet deliver on their promises, Bitcoin mining could see a similar shift. Instead of a constant cycle of buying and scrapping hardware, miners could invest in long-lived infrastructure that is easy to upgrade and maintain. The result could be a more decentralized network, lower entry costs for new players and less electronic waste. Jack Dorsey wants to make Bitcoin mining as reusable as SpaceX rockets first appeared on TheStreet on Aug 15, 2025 This story was originally reported by TheStreet on Aug 15, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
4 days ago
- Business
- Business Wire
Block Unveils Proto Rig and Proto Fleet, Marking a New Era in Bitcoin Mining
DALTON, Ga.--(BUSINESS WIRE)-- Block, Inc. (NYSE: XYZ) today unveiled Proto Rig, a first-of-its-kind modular bitcoin mining system, and Proto Fleet, a free and open-source fleet management software. The announcement, made during an event held at Proto customer Core Scientific's facility in Dalton, GA, where Proto Rigs are mining as part of their fleet, represents a significant step toward decentralizing bitcoin mining hardware, opening access to more builders, and increasing network resiliency. These mark the first two end-to-end releases by Proto, Block's suite of bitcoin mining products and services, following its initial chip sale to Core Scientific. Proto Rig: Durable, repairable, upgradeable infrastructure Moving away from disposable hardware models, Proto Rig is designed to be infrastructure—a paradigm shift that solves many existing pain points for miners and signals the company's long-term commitment to the industry. Proto Rig's modular design lets operators upgrade individual hashboards without replacing entire units, transforming what has historically been a 3-5 year disposable asset into a 10-year infrastructure investment, reducing costs by 15-20% each upgrade cycle. It also allows for easy, in-place, tool-free repair, turning a process that can take hours, days, or weeks into one that takes seconds, saving miners valuable time and resources. 'Mining hardware hasn't really changed in years,' said Thomas Templeton, Hardware Lead at Block. ' Machines break often, are hard to repair, expensive and time-consuming to upgrade, and don't make the most efficient use of power or space. With Rig, we set out to change all of that–and contribute to hardware decentralization in the process.' With unmatched power density and maximum miner uptime, Proto Rig delivers 1.5 times the power per foot of rack space compared to traditional mining hardware. Designed to be compatible with modern and legacy infrastructure, Proto Rig gives mining operators the power to maximize efficiency in their existing facilities without requiring extensive retrofitting, addressing long-standing challenges in power utilization and lifecycle management. Proto Fleet: Comprehensive, open source, and free Alongside Proto Rig, Block also announced Proto Fleet, comprehensive, open-source fleet management software that brings together power-scaling, monitoring, diagnostics, and maintenance tools in a single, intuitive platform. 'Mining hasn't really caught up with advances in software more broadly,' said Templeton. ' We saw an opportunity to make mining software something modern that improves operational efficiency instead of unnecessarily complicating things.' Proto Fleet brings together many functionalities that have historically required their own, individual pieces of software to manage, helping miners streamline operations, maximize uptime, and minimize time spent troubleshooting. A big part of Proto's effort to decentralize mining, Proto Fleet will be available for anyone to use, at no cost, giving mining operators of all sizes access to powerful fleet management software. All of these advancements together—on-rack, tool-free repairability, high-quality components, swappable hashboards, and backwards compatibility—mean more uptime across install, repairs, upgrades, and ultimately the life of the machine. The reveal of both products builds on Block's long track record of building transformational technology and rounds out the company's broader commitment to bitcoin across Square, Cash App, Bitkey, and Spiral. For more information about Proto Rig and Proto Fleet, visit About Proto Proto Global, LLC, as an affiliate of Block, Inc. is Block's suite of bitcoin mining products and services. Its mission is to decentralize mining by increasing access to tools for builders, regardless of their size or location. By entering the mining hardware space, Proto is taking a key step toward that goal. Learn more at About Block Block, Inc. builds technology to increase access to the global economy. Each of our brands unlocks different aspects of the economy for more people. Square makes commerce and financial services accessible to sellers. Cash App is the easy way to spend, send, and store money. Afterpay is transforming the way customers manage their spending over time. TIDAL is a music platform that empowers artists to thrive as entrepreneurs. Bitkey is a simple self-custody wallet built for bitcoin. Proto is a suite of bitcoin mining products and services. Together, we're helping build a financial system that is open to everyone.
