Block (SQ +0.9%), formerly known as Square, is looking to hire someone to head up a team to build a bitcoin-mining Application-Specific Integrated Circuit, according a recent job post. An ASIC is a chip that's designed for a specific use, rather than for a range of uses. The company said a team of digital and mixed signal designers will develop the "next generation of mining ASIC." Last October, Block CEO Jack Dorsey said, via a Twitter thread, that the company was considering building a bitcoin mining system to make crypto mining more efficient and accessible. "Bitcoin mining should be easy as pugging a rig into a power source," Dorsey said at the time, adding "mining needs to be more distributed." Recall that Dorsey stepped down as Twitter CEO in November.
