Dorsey Confirms Bitcoin Payments for Square & Bitkey
Dorsey Confirms Bitcoin Payment Integration
Jack Dorsey, co-founder of Block (formerly Square, Inc.), has confirmed that his company is actively developing Bitcoin payment integration for both Square and Bitkey.
This confirmation follows questions from an X user regarding the timeline for enabling Bitcoin payments across Block’s services. Dorsey clarified that the process is more complex than a simple software update, emphasizing the considerable development work involved. He provided no specific timeline for launch.
not a simple flip of a switch but we are doing it
— jack (@jack) April 3, 2025
Key Takeaways:
- Block is actively developing Bitcoin payment capabilities for Square and Bitkey.
- Block holds a substantial Bitcoin position, currently owning 8,485 BTC, valued at over $700 million.
Block's Bitcoin Mining Expansion
Block is a leading Bitcoin holder and has publicly announced plans to significantly expand its Bitcoin mining operations. In a letter to shareholders last November, the company detailed its intention to become a major player in Bitcoin mining, citing strong market demand and a robust pipeline. This strategic shift includes scaling down investments in other areas, such as Tidal (music streaming) and TBD (decentralized web projects), and involved recent layoffs within those divisions.
This decision follows the successful development of Block’s 3nm Bitcoin mining chip. The company aims to build a complete Bitcoin mining system, leveraging its strengths in product development, software engineering, supply chain management, and aftermarket support to offer a comprehensive mining solution.
At Codeum, we provide comprehensive blockchain security and development services, including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies. We help companies like Block navigate the complexities of the blockchain space securely and efficiently.