Jack Dorsey's Block Shifts Focus to Bitcoin Mining Under Trump's Crypto-Friendly Administration

Block reallocates resources to mining hardware development as President-elect Trump promises support for the crypto industry.

Block is scaling back investments in TIDAL and canceling its Web5 initiative to focus on Bitcoin mining.
Bitcoin's value has surged following Trump's election, reaching over $76,000.
Block's pivot includes developing proprietary mining hardware, with Core Scientific committed to using its equipment.
Trump's administration plans to support Bitcoin mining and retain U.S. government-held Bitcoin.
Block's recent financial results showed a miss in revenue expectations but an increase in profitability.