Jack Dorsey Upbeat On Block's Bitcoin Mining Chip Delivery In H2 2025, Sees 'Huge Opportunity' As China Tariffs Disruption Looms

Jack Dorsey, CEO of Block Inc. XYZ, expressed excitement about the upcoming delivery of the firm’s first Bitcoin BTC/USD mining hardware on Thursday, developed as part of its mining products suite, Proto.

What Happened: During the company’s first-quarter earnings call, Dorsey confirmed that Block was on track to deliver the mining chips and systems in the second half of the year.

“And the reason we're so excited is because we've seen this huge opportunity with Bitcoin miners and the systems that they have to deal with on a regular basis,” Dorsey stated. He noted the huge potential of the Bitcoin hardware supply industry, estimating it as a $3-6 billion annual revenue opportunity.

Block inked a deal with leading miner Core Scientific Inc. CORZ last year to supply 15 exahashes per second (EH/s) worth of ASIC chips.

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Talking about Proto, Dorsey stated that the company focused on reliability and flexibility and that they have been in close communication with customers to understand their needs.

“We have very close relationships with our vendors and our manufacturers, and building in the United States. So these are all things that add up to a pretty compelling product,” Dorsey added.

Why It Matters: Block has been striving to expand its Bitcoin mining business. It launched the Proto mining suite that consists of ASIC chips, mining rigs, and developer tools, with a special focus on supporting smaller players and home mining.

Dorsey previously voiced optimism in the suite’s potential to challenge foreign dominance in the Bitcoin mining industry

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The focus on domestic manufacturing comes at a time when U.S. miners are bracing for potential business disruptions due to escalating trade tariffs with China, home to the world’s largest Bitcoin hardware makers. According to analysts, American miners were looking at a 22–36% increase in the cost of mining machines.

Block reported worse-than-expected first-quarter results after Thursday’s market close, with earnings and revenue missing analysts’ estimates.

Price Action: At the time of writing, Bitcoin was exchanging hands at $97,151.14, up 2.47% in the last 24 hours, according to data from Benzinga Pro.

Shares of Block bled 18.4% in after-hours trading after closing 0.02% higher at $58.48 during Thursday’s regular session.

The stock exhibited a very high growth score—a measure of the stock’s combined historical expansion in earnings and revenue across multiple periods. If you’re scouting for similar high-growth stocks for your portfolio, visit Benzinga Edge Stock Rankings.