Intel To Present Energy-Efficient Bitcoin Mining Chip




Intel, the world’s second-largest semiconductor chip maker, looks to be preparing to unveil a Bitcoin mining device. The organization has a presentation scheduled under the “Highlighted Chip Releases” category at this year’s ISSCC conference to exhibit a “Bonanza Mine” processor.

The Bonanza Mine Processor

Intel defines the processor as an “ultra-low-voltage energy-efficient Bitcoin mining ASIC,” according to Tom’s Hardware.

An application-specific integrated circuit, or ASIC, is a circuit that is designed for specific use. In order to stay competitive, such devices are widely used in the Bitcoin mining industry nowadays. GPU processors, unlike Ethereum, aren’t exactly ideal for the job.

After filing a patent for “energy-efficient high-performance Bitcoin mining” in 2018, Intel expressed interest in entering the market. The corporation even bought a minor interest in Coinbase in August.

In a recent interview with popular streamer Dr. Lupo, the manufacturer’s GPU Chief Raja Koduri stated that the company was working on specific Bitcoin mining hardware.

In a recent interview with popular streamer Dr. Lupo, the manufacturer’s GPU Chief Raja Koduri stated that the company was working on specific Bitcoin mining hardware.

“It’s a really doable challenge,” Koduri said, “to be able to execute much more efficient blockchain validation at a much lower cost, much lower power.” We’ll release some intriguing gear for that at some point in the future, perhaps not too long away.”

Given Intel’s own silicon manufacturing skills, the business may be a formidable competitor in the Bitcoin mining space. Bitmain is now one of the sole sellers of Silicon, charging miners a significant premium for it.

Conclusion

As more miners – particularly silicon producers – enter the market, the business becomes more competitive and decentralized, which is crucial for the Bitcoin network’s integrity. After scheming to increase Bitcoin’s block size against the interests of nodes, a group of just a few major mining pools nearly tore the network apart in 2017.

Block, the company founded by Jack Dorsey, recently announced plans to construct a new Bitcoin mining technology. This technology is designed to be more suitable for at-home use, allowing the industry to become more decentralized and less reliant on large-scale mining farms.

Read More: Cybersecurity Firm Norton Pivots to Crypto, Allows Users to Mine Ethereum With Their Idle PC Power




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