Intel Set to Launch Energy-Efficient Chip for Bitcoin Mining in February

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Intel, the semiconductor manufacturing large, may very well be making a much bigger push into the world of cryptocurrency on the upcoming International Solid-State Circuits Conference (ISSCC) subsequent month the place the corporate plans to current a brand new “Bonanza Mine chip” which is probably going an energy-efficient Bitcoin ASIC (application-specific built-in circuit) geared in direction of mining. There’s little info to go on to date, however Intel has a slot scheduled below the Highlighted Chip Releases class for February 23, as per a docket with shows scheduled to happen from places of work in Hillsborough, Santa Clara and San Diego, California.

It isn’t clear whether or not Intel will current a viable product or just unveil a prototype chip. As identified in a report by Tom’s Hardware, Intel has been engaged on its entry into the Bitcoin marketplace for fairly some time. In 2018, the US Patent and Trademark Office awarded the chip large a patent for effectively mining cryptocurrencies that use the SHA-256 algorithm. Intel additionally disclosed a small stake in main cryptocurrency trade Coinbase in August 2021.

Unlike CPUs or GPUs that are geared in direction of a number of use-cases, ASIC is a kind of chip designed for a particular sort of process — on this case, Bitcoin mining. They do just one job, however they’re presupposed to be particularly good at it.

Often, graphics playing cards or GPUs are the chips related to mining cryptocurrency. In reality, many attribute the continuing GPU scarcity, partly, to Ethereum mining, because the playing cards promote out earlier than any common customers can get their palms on them. However, for now, Intel’s specialised mining chip labelled Bonanza Mine would not supply an answer to that drawback because the ASIC is simply geared in direction of Bitcoin mining.

Raja Koduri, Senior Vice President and General Manager of the Accelerated Computing Systems and Graphics (AXG) Group at Intel, stated in an interview last month that with the ability to do far more environment friendly blockchain validation at a a lot decrease price with a lot much less energy is a solvable drawback. “And that’s not a GPU thing, so don’t try to confuse that as a GPU thing. GPUs will do graphics, gaming, and all those wonderful things,” Koduri said. “We are working on that, and at some point, in time, hopefully not too far into the future, we will kind of share some interesting hardware for that,” he added.

That stated, Intel will face stiff competitors from Bitmain and MicroBT, the world’s largest producers of Bitcoin mining {hardware}.

Interested in cryptocurrency? We talk about all issues crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is accessible on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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