Intel Unveils New Bitcoin Mining Chip

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Key Takeaways

  • Intel has introduced a collection of Bitcoin mining chips known as “Blockscale,” which it’s going to start to ship later this 12 months.
  • Numerous mining companies have ordered the chip, together with Argo, Hive, GRIID, and Block Inc. (previously Sq.).
  • Whereas Bitmain dominates mining chip manufacturing, Intel and different mainstream companies at the moment are getting concerned.

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Semiconductor big Intel has introduced a brand new cryptocurrency mining chip, in response to a press launch revealed Apr. 4.

Intel Introduces Blockscale ASICs

Intel will roll out its line of application-specific built-in circuits (ASICs), branded “Blockscale,” over the course of this 12 months.

The road of chips is designed to mine Bitcoin and different cryptocurrencies primarily based on the SHA-256 algorithm.

The product will likely be shipped to blockchain mining companies together with Argo, Hive, and GRIID starting in Q3 2022. Jack Dorsey’s Block Inc. (previously Sq.) can be listed as a recipient.

Intel consultant Balaji Kanigicherla steered that mining is a rising trade, noting that “momentum round blockchain continues to construct.” Certainly, Bitcoin’s mining hash charge hit an all-time excessive of 248 million terahashes per second (TH/s) this February.

Kanigicherla added that Intel’s chips intention to supply an “optimum stability” between excessive hash charge and environment friendly power consumption. The gadgets will obtain hashrates as excessive as 580 gigahashes per second and use as little energy as 26 joules per terahash.

Intel has been engaged on ASICs for a while. The corporate first filed patents associated to the know-how in 2018. It additionally mentioned a line of chips known as “Bonanza Mine” throughout a convention this 12 months.

Extra Corporations Are Concerned In Mining

Bitmain, a China-based firm lively since 2013, has traditionally dominated the mining chip trade. Estimates from 2018 recommend the agency is answerable for 75% of all mining tools.

Different corporations like Canaan Inventive and Bitfury additionally gained prominence within the mining chip trade early in its existence.

Nevertheless, mainstream corporations at the moment are shortly shifting into mining chip manufacturing. Intel competitor Nvidia divided its product strains into gaming GPUs and crypto mining chips in early 2021. Intel responded to that transfer late final 12 months by stating that it will not restrict the hash charge of its GPUs, in contrast to Nvidia.

Moreover, Samsung acknowledged that it manufactures ASICs for personal clients in 2018 however offered few particulars.

Disclosure: On the time of writing, the writer of this piece owned BTC, ETH, and several other different cryptocurrencies.

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