Intel introduced Bitcoin Mining Chip: Energy-efficient and super fast

• Intel Corp announced the release of an energy-efficient super-fast processor chip for blockchain applications on Friday.

• Users will be able to purchase Intel’s “blockchain accelerator,” which is supposed to be 1000x faster than competitors.

• Block Inc., directed by Jack Dorsey, is one of the key clients who have expressed interest in the new processing chip (formerly Square).

Intel’s entry into the blockchain processing chip market

The new Intel processor claims to make Bitcoin mining faster and more energy-efficient.

Raja M. Koduri, Senior Vice President, General Manager, Accelerated Computing System, and Graphics Group, elaborates on the debut of Intel’s bitcoin accelerator in an official announcement.

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“Today, Intel declares its intention to assist to the development of blockchain technology by releasing a roadmap of energy-efficient accelerators.” he added, “Intel will support and engage an open and secure blockchain ecosystem, as well as assist advance this technology in a responsible and sustainable manner,” Raja said in an article published on the Intel Newsroom.

Last month, Intel, the world’s second-largest semiconductor chip maker after TSMC, scheduled a presentation at the ISSCC conference under the heading “Highlighted Chip Releases.”

It has introduced its future blockchain chip as a “Bonanza Mine” processor, describing it as an “ultra-low-voltage energy-efficient Bitcoin mining ASIC.”

Intel got its first client

Block Inc., directed by Jack Dorsey, is one of the key clients who have expressed interest in the new processing chip (formerly Square).

“Among our initial customers for this future offering are Argo Blockchain, GRIID Infrastructure, and BLOCK (previously known as Square)”, he added, “This architecture is done on a tiny piece of silicon, therefore it has little influence on existing product supply,” Raja explained.

Intel claims on the processor

MicroBT, a well-known manufacturer of Bitcoin mining hardware devices, will compete with Intel’s entry into the blockchain business as a provider of speed and scalability solutions.

Intel’s entry into the blockchain business as a provider of fast processing capacity may entice other players to enter the mining industry.

“Our new super-fast processor enhancements will accelerate blockchain with over 1000x greater performance per watt than standard GPUs for SHA-256 mining,” Raja said.