Jack Dorsey, billionaire CEO of Square and Twitter, exploits Bitcoin

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Jack Dorsey announced on Tuesday that he is mining Bitcoin, using a third-party service that hosts the necessary equipment to allow him to secure the network and compete for its rewards.

First appearing in response to a tweet, he revealed he had signed up for Compass Mining, a startup looking to expand its stake in Bitcoin mining, disrupting an industry now dominated by the big boys. data centers.

User @kitt_andrew wrote:

“As a Bitcoin enthusiast for years, I can’t believe it took me this long, but I finally pivoted my business to enter the mining space thanks to @compass_mining. I couldn’t be more excited and can’t wait to be in February when they launch the first one.

Twitter and Square CEO Jack Dorsey has a habit of replying to certain messages from small, unrelated accounts, which gets them a lot of attention. Jack wrote in response: “I’m also trying to mine with @ compass_mining…”

It is not known how many miners Jack purchased and had Compass Mining serviced, although it is notable that he chose this mining as a service route as the billionaire could surely afford to start his own small-scale mining operation. to experiment.

It’s not impossible that Jack Dorsey is using his Compass Mining business as an educational trial for Cash App, a platform that allows users to buy, sell, send and receive Bitcoin.

The vague tweet doesn’t tell us much about his business. While it could be read more as a pursuit of self-interest rather than a strategic business partnership, the PR was certainly good for the early Bitcoin Compass Mining company.

Compass Mining has grown in popularity over the past year. The company rents equipment and space at mining facilities around the world through a platform that resembles a hotel reservation service.

Compass is also beginning to trust the mining space as a service, an industry historically dominated by scams and underground operators.

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