PANews reported on August 9th that Amrita Ahuja, CFO of Block, the crypto fintech company founded by Twitter co-founder Jack Dorsey, stated in an interview with CNBC that the company will launch a new Bitcoin mining chip next week, aimed at optimizing the decentralized Bitcoin mining ecosystem. This comes months after Block reportedly announced the completion of development of a 3-nanometer Bitcoin mining chip. Furthermore, Jack Dorsey also posted "Next Week" on the X platform with an image of a mining tool, hinting at the upcoming August 14th launch of the new product.