Block Partners with Core Scientific for Major Bitcoin Mining Chip Deal

The agreement aims to decentralize bitcoin mining with Block's new 3nm ASIC chips, enhancing efficiency and sustainability.

Block's first large-scale sale of 3nm mining ASICs to Core Scientific marks a significant milestone.
The deal is one of the largest in the industry by hashrate, providing 15 exahashes per second.
Analysts highlight the need for more details on profit margins to assess Block's long-term earnings potential.
Block's Proto team developed the chips to optimize space and operational resources in data centers.
Core Scientific's stock rose, while Block's shares have seen a decline this year.