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Block: US-based manufacturer of Bitcoin mining chips Proto plans to launch within the year to address tariff risks.
Golden Finance reported that Block CEO Jack Dorsey stated that the company is manufacturing Bitcoin mining chips Proto in the United States to cope with rising tariffs and overseas manufacturing risks. The chip is scheduled for release in 2025, designed with open source code, emphasizing flexibility and direct collaboration with U.S. suppliers. Additionally, Block disclosed that its first quarter achieved a gross profit of $2.29 billion, a year-on-year rise of 9%, with Cash App's gross profit increasing by 10% to $1.38 billion and Square rising by 9% to $898 million.