Block: Proto, a bitcoin mining chip made in the United States, is expected to be launched within the year to deal with tariff risks."
According to online reports, Block CEO Jack Dorsey said that the company is manufacturing the Bitcoin mining chip Proto in the United States to cope with rising tariffs and overseas manufacturing risks. The chip is planned to be launched in 2025, adopts an open source design, emphasizes flexibility and will work directly with U.S. suppliers. In addition, Block disclosed that it achieved gross profit of US$2.29 billion in the first quarter, a year-on-year increase of 9%. Among them, Cash App gross profit increased 10% to US$1.38 billion, and Square increased 9% to US$898 million.
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