PANews reported on May 2 that according to DL News, Block CEO Jack Dorsey announced that the company is manufacturing Bitcoin mining chips Proto in the United States to cope with rising tariffs and overseas manufacturing risks. The chip is scheduled to be launched in 2025 and adopts an open source design, emphasizing flexibility and will work directly with American suppliers.
In addition, Block also disclosed its first-quarter performance, achieving a gross profit of US$2.29 billion, a year-on-year increase of 9%, of which Cash App's gross profit increased by 10% to US$1.38 billion, and Square's increased by 9% to US$898 million.
