Twitter CEO: I'm trying to mine Bitcoin

Twitter and Square CEO Jack Dorsey posted on Tuesday that he is trying to mine Bitcoin. Responding to another user's tweet about Bitcoin mining, Dorsey wrote, "I'm also trying to mine using Compass Mining." He did not elaborate.

Compass Mining is a service that provides hosting, provisioning, and operation of cryptocurrency mining rigs for "miners" who do not want to purchase and maintain mining equipment themselves. The starting price for purchasing mining hardware from Compass Mining is $8,200. According to the company's website, historically, Compass miners have made a profit of about $33 per day.

Through mining, Bitcoin investors can begin to learn about the process firsthand, rather than just buying the digital currency. This is not surprising for Dorsey, as he has supported Bitcoin personally and professionally many times in the past.

In July, at the "B-Word" conference hosted by the Crypto Council for Innovation, Dorsey reiterated his enthusiasm for Bitcoin and expressed his hope that it could bring about world peace. At the 2021 Bitcoin Conference in June, Dorsey explained that he sees Bitcoin as a way to prevent currency debasement and speed up cross-border money transfers.