Block CEO: Bitcoin chips will be produced in the U.S. to cope with trade shocks

Odaily News Block CEO Jack Dorsey said that the Bitcoin mining chip Proto developed by the company will be launched in 2025 and will be produced in the United States to cope with tariffs and overseas manufacturing risks. Dorsey emphasized that cooperation with domestic suppliers and manufacturers will ensure that the chip is released as planned. Block's gross profit in the first quarter reached 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. However, due to the weak macro environment and consumption, the company lowered its full-year gross profit forecast for 2025 to US$9.96 billion, a year-on-year increase of 12%.