Twitter CEO Jack Dorsey Is "Trying" Bitcoin Mining Through Compass Mining
The crypto enthusiast dives deeper into the decentralized industry.
Twitter CEO Jack Dorsey has revealed on his social media platform that he’s “trying” out Bitcoin mining through a third-party company named Compass Mining.
Replying to a thread involving other Bitcoin miners, Dorsey said that he’s “trying mining with [Compass Mining],” a service that not only hosts and operates but also supplies cryptocurrency mining machines for individual customers who prefer not to go through the trouble of building and maintaining their own mining computers themselves. According to CNBC, the initial hardware costs come in at around $8,200 USD, and miners subsequently earn a profit of roughly $33 USD per day.
The move into Bitcoin mining for Dorsey comes after the tech CEO showed great enthusiasm and faith in the world’s most valuable cryptocurrency, going so far as to claim that Bitcoin will unite the world and bring peace. In July, his other company Square introduced a hardware wallet for Bitcoin shortly before starting an entire business based around the cryptocurrency named TBD.
I’m trying mining with @compass_mining too…
— jack⚡️ (@jack) August 17, 2021
Elsewhere in tech, Robinhood says that over 60 percent of funded accounts on its platform traded in crypto last quarter.
