2022-02-15 21:13:16
According to a share from Intel, one of the world’s leading microprocessor chip manufacturers, the company will produce a chip for blockchain applications at a speed 1000 times faster than its closest competitors.
Intel produces super-fast Bitcoin mining chips
On February 11, Intel Corp announced the launch of a super-fast and energy-efficient processor chip with the ability to reach 1000 times faster than its closest competitors. In particular, customers have the opportunity to own this “accelerator” around the end of this year.
In an official keynote on Intel Newsroom, Raja M. Koduri, Senior Vice President, General Manager, Accelerated Computing Systems and Graphics Group, explained their product in more detail. Specifically, he shared:
“Today, we at Intel are announcing our intention to contribute to the development of blockchain technology, with a roadmap of energy efficient accelerators. Intel will participate in and promote an open and secure blockchain ecosystem, and will help advance the technology in a responsible and sustainable manner.”
About last month, the consortium planned to present the theme “Featured Chip Releases” at the ISSCC conference.
During its presentation, Intel introduced its chip as a “Bonanza Mine” processor and described it as something like “Ultra low voltage energy efficient Bitcoin mining ASIC”.
The new Intel chip will be available for shipping in late 2021 and it promises to make BTC mining faster and more energy efficient.
According to the share from Raja:
“We expect that our circuit innovations will deliver a blockchain accelerator with 1000x better performance per watt than mainstream GPUs for SHA-256-based mining,” he said.
Jack Dorsey’s Block Becomes One of Intel’s First Customers
Together with Intel’s new product launch and breakthrough in the Blockchain field, it helps to attract more new players to enter the industry.
Jack Dorsey’s Block confirmed that they are planning to work with Intel to buy and upgrade new equipment for home Bitcoin mining.
Accordingly, Block Inc led by Jack Dorsey (formerly Square) is known to be one of the major customers for this product.
Sharing about this customer, Raja shared that:
“Argo Blockchain, BLOCK (formerly known as Square) and GRIID Infrastructure are among our first customers for this upcoming product. This architecture is implemented on a small piece of silicon so that it has minimal impact on the current product offering.”
By entering the blockchain industry as a provider of speed and scalability solutions, Intel will face direct competition from MicroBT, a renowned supplier of hardware products. Bitcoin and Bitmain mining.
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