It was announced on Monday that Intel, a chip company in the United States, has a novel application-specific integrated circuit named Blockscale. It features a lot of exciting things to say about it.
Launch of Intel’s New BTC Mining Chip
If you buy a second-generation BTC miner, it can run at 580 GH/s and use only 26 J/TH of electricity. The device is capable of measuring voltage and temperature. The innovation enables Intel to emerge as a formidable rival in the BTC mining sector, threatening the monopoly of MicroBT and Bitmain, 2 Chinese firms that currently dominate the market. Regarding efficiency, Blockscale outperforms any other item provided by rival application-specific integrated circuit makers.
It might help to lessen the critique of BTC because it could make mining more environmentally friendly. According to a comment from Jose Rios, Blockscale would assist the BTC mining industry in becoming more sustainable. Based on the company’s release, the technology will successfully provide excellent output without sacrificing energy consumption.
When Intel’s clients buy the chip, they’ll be able to use it for mining in the Q3 of 2022. A few well-known crypto mining firms, including Argo Blockchain and Hive Blockchain, have expressed interest in receiving Intel’s latest application-specific integrated circuit.
The Initial Unveiling of the Bonanza Mining Chip
Intel initially revealed some data regarding the Bonanza cryptocurrency mining chip at the International Solid-State Circuits 2022 event in February, as reported by U.Today. Intel, the world’s largest semiconductor manufacturer, is set to unveil a power-efficient BTC ASIC dubbed “Bonanza Mine” at the ISSC conference.
There are few details concerning the forthcoming BTC mining project for the $223B firm. It’s still uncertain as to whether Intel will display a completed product or a mere prototype processor. On 23rd February, the application-specific integrated circuit will be presented.
Intel has been preparing to enter the BTC industry for quite some time. USPTO granted the chipmaker a patent in 2018 for mining cryptocurrency efficiently using the SHA-256 algorithm. According to U.S. news reports, in August 2021, Intel revealed a tiny stake in Coinbase. In October, the company affirmed that it’d not downgrade Arc Alchemist Graphics Processing Units to fend off bitcoin miners, despite Nvidia’s lead.
Video games are supposed to be played with graphics cards, not mine with them, says Raja Koduri, the head of Intel’s graphics team. He seems to have previewed the company’s upcoming mining product as well: However, being competent to accomplish considerably more productive blockchain verification at a reduced cost and with much less power is a challenge that can be solved rather quickly. We’re working on it, and we want to reveal some cool hardware when it’s ready, perhaps not too distant in the future.
MicroBT and Bitmain, the world’s largest makers of BTC mining hardware, would be fierce competitors for Intel. Blockchain.com says that BTC’s hash rate, which is how much computing power the network has, has finally reached another ATH of 216 EH/s, the highest ever. Developing a power-efficient application-specific integrated circuit might be a show-stopper for the sector, primarily due to mounting worries about BTC’s excessive power use and environmental impact.