JACK DORSEY, BILLIONAIRE CEO OF SQUARE AND TWITTER, IS MINING BITCOIN
Jack Dorsey, CEO of Square and Twitter, announced that he is mining bitcoin, using a third-party service that hosts the equipment necessary for him to help secure the network and compete for its rewards.
He revealed in a reply from a tweet, he has signed up for Compass Mining, a startup that is seeking to broaden participation in Bitcoin mining, disrupting an industry now dominated by large data centers.
It is not impossible that Jack Dorsey would use his Compass Mining venture as an education trial run for Cash App, a platform that allows users to buy, sell, send, and receive Bitcoin.
The vague tweet doesn’t really tell us much about his venture at all. Although one might read it as more of a personal interest pursuit rather than a strategic business partnership, the PR was certainly good for the Bitcoin-first Compass Mining company.
Compass Mining has grown in popularity over the last year. The company rents out hardware and space in mining facilities around the world through a platform that looks something like a hotel booking service.
Compass is also beginning to bring trust to the mining-as-a-service space, a sector historically dominated by scams and fly-by-night operators.
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