Jack Dorsey has embarked on Bitcoin (BTC) mining
Jack Dorsey, the founder of Twitter and Square, reveals that he has embarked on Bitcoin (BTC) mining. In response to a tweet from an Internet user, the American entrepreneur soberly announced this Wednesday, August 18, 2021:
“I try to mine with Compass Mining too”
I’m trying mining with @compass_mining too…
– jack⚡️ (@jack) August 17, 2021
Obviously, Jack Dorsey has just started mining with the help of an American company called Compass Mining. The firm’s Twitter account quickly shared Dorsey’s announcement with its followers.
– Compass Mining 🧭 (@compass_mining) August 17, 2021
As can be read on its official website, Compass Mining is a platform that allows individuals to mine Bitcoin (BTC) without having to host and maintain the necessary infrastructure. As a first step, the company asks its customers to invest in an ASIC, a machine entirely dedicated to Bitcoin mining.
The purchase of ASIC takes place through Compass Mining. The platform then takes care of installing the machine in one of its infrastructures and joining a mining pool. Compass Mining has mining farms in several regions of the world, including Russia, the United States, Canada and China.
After paying the cost of powering the machine, Compass Mining customers receive the rewards from the mining process directly to their bitcoin wallets.
“We are a Bitcoin-focused company with a mission to support decentralized hashrate growth and strengthen network security by helping more people learn, explore and mine Bitcoin,” Compass Mining explains on its site.
The company allows you to embark on the mining adventure by purchasing a single ASIC. On its website, the American firm currently offers a single machine dedicated to mining at a price of 8,200 dollars. Compass Mining assures that its customers earn an average of $ 33 every day. Obviously, this estimate changes significantly from one week to another, in particular depending on the price of Bitcoin.
👉 Also read: Jack Dorsey still refuses to invest in Ether (ETH), only Bitcoin (BTC) interests him
Jack Dorsey confirms his interest in Bitcoin (BTC)
Jack Dorsey is one of the most fervent supporters of the oldest cryptocurrency. A convinced maximist, the founder of Twitter claims to be convinced that Bitcoin will help unite the world, starting with the United States. In particular, he encourages governments to follow El Salvador’s example and adopt Bitcoin.
Moreover, Square, the start-up specializing in mobile payment co-founded by Jack Dorsey, is increasing its forays into the cryptocurrency sector. A few weeks ago, Square teamed up with Blockstream to mine Bitcoin using solar power. More recently, the firm created a new financial services company entirely dedicated to the queen of digital currencies, “TBD”.
👉 Also read: Jack Dorsey says Square is considering launching a hardware wallet for Bitcoin (BTC)
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About the author: Florian Bayard