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