Block Ditches Web5 to Bet Big on Bitcoin Mining 💥

News & Articles
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Summary:

  1. Web5 Cancellation
    Block, led by Jack Dorsey, has scrapped its Web5 decentralized internet project.

  2. Shift to Bitcoin Focus
    The company will invest more in Bitcoin mining and Bitkey wallets, responding to strong market demand.

  3. Tidal Cuts
    Block will reduce its investment in Tidal music streaming to prioritize these areas.

  4. Strategic Repositioning
    The strategic move reflects growing demand for Bitcoin mining hardware and self-custody solutions.

Read more at: CoinDesk