Block CEO: Bitcoin chips will be produced in the US to cope with trade shocks

robot
Abstract generation in progress

According to Mars Finance, Block CEO Jack Dorsey stated that the company's Bitcoin mining chip Proto will be launched in 2025 and will be produced in the United States to address tariff and overseas manufacturing risks. Dorsey emphasized that collaboration with domestic suppliers and manufacturers will ensure the chip is released as planned. Block's gross profit in the first quarter reached $2.29 billion, a year-on-year rise of 9%, with Cash App's gross profit increasing by 10% to $1.38 billion and Square rising by 9% to $898 million. However, due to the macro environment and weak consumer spending, the company has lowered its full-year gross profit forecast for 2025 to $9.96 billion, a year-on-year rise of 12%.

BTC1.95%
APP6.17%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)