Block, the company led by Jack Dorsey, is dialing back its commitment to TIDAL, the music streaming service once under the ownership of Jay-Z. This revelation emerged from a recent shareholder communication. Additionally, Block is putting an end to TBD, its Bitcoin-centric division that had plans to create a decentralized web platform, referred to as “Web5.” These strategic reductions will enable the firm to channel funds towards Bitcoin mining and their cryptocurrency wallet.

“We’re reducing our stake in TIDAL and phasing out TBD,” stated Block in the shareholder note. “This move allows us to commit resources to our Bitcoin mining project, which shows strong market compatibility and a robust demand pipeline, and Bitkey, our proprietary Bitcoin wallet.”

These latest measures to trim expenses are being implemented by the organization behind Square and Cash App. Block has reportedly been letting go of personnel in recent times, as per Fortune, and has allegedly instructed staff to avoid mentioning their board member, Jay-Z, in email or Slack communications.