Square signals Toronto-based executive will lead push into bitcoin mining [Financial Post (Toronto, Ontario, Canada)]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: Financial Post
Article content Square Inc. chief executive Jack Dorsey says the financial services company is considering an entry into the bitcoin mining space — and it appears that one of Square's Toronto-based executives will be leading the project. Advertisement Article content Bitcoin mining is a process in which high-powered computer rigs solve complex mathematical problems, leading to the creation of new bitcoin and supporting the existing network. Dorsey hopes to decentralize the process with a new custom-silicon, open-source model that individuals and businesses could use, according to a thread he posted on the social media site Twitter last week. (Dorsey is also the chief executive of Twitter Inc.). Another Square executive, hardware lead Jesse Dorogusker, then announced that the creator of Square's Toronto silicon team, Afshin Rezayee, will lead the project, which is heavily reliant on creating the silicon chips needed to run the rigs. Rezayee held a number of senior execut
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- Block, Inc. (NYSE: SQ) had its "positive" rating re-affirmed by analysts at Susquehanna. They now have a $100.00 price target on the stock.MarketBeat
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